IAMGOLD Co. (NYSE:IAG) Receives Average Rating of “Moderate Buy” from Analysts

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) has earned an average rating of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $6.68.

A number of research analysts have commented on IAG shares. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 price objective on shares of IAMGOLD in a report on Tuesday, October 22nd. Scotiabank increased their target price on IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a report on Monday, August 19th. StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. Finally, Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating and upped their price target for the company from $7.75 to $10.50 in a research report on Tuesday, October 22nd.

Institutional Investors Weigh In On IAMGOLD

Several large investors have recently made changes to their positions in IAG. BNP Paribas Financial Markets increased its position in IAMGOLD by 326.7% in the 1st quarter. BNP Paribas Financial Markets now owns 609,440 shares of the mining company’s stock valued at $2,029,000 after acquiring an additional 466,620 shares during the period. Headlands Technologies LLC bought a new position in IAMGOLD in the 1st quarter valued at about $389,000. Vanguard Group Inc. raised its position in shares of IAMGOLD by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock worth $58,871,000 after buying an additional 168,302 shares in the last quarter. Donald Smith & CO. Inc. lifted its stake in shares of IAMGOLD by 0.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 36,077,268 shares of the mining company’s stock worth $120,137,000 after acquiring an additional 298,959 shares during the period. Finally, Linscomb Wealth Inc. bought a new position in shares of IAMGOLD in the first quarter valued at approximately $67,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

IAMGOLD Stock Up 0.8 %

Shares of NYSE IAG opened at $5.33 on Wednesday. The stock has a fifty day moving average price of $5.25 and a 200 day moving average price of $4.48. The company has a current ratio of 1.34, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30. IAMGOLD has a 12-month low of $2.11 and a 12-month high of $6.37. The company has a market cap of $3.04 billion, a P/E ratio of 21.32 and a beta of 1.57.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The business had revenue of $385.30 million during the quarter. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. During the same quarter last year, the business posted ($0.01) EPS. Research analysts anticipate that IAMGOLD will post 0.53 EPS for the current fiscal year.

About IAMGOLD

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.