Iamgold Corp (IAG) Given Consensus Rating of “Buy” by Brokerages

Shares of Iamgold Corp (NYSE:IAG) (TSE:IMG) have earned an average recommendation of “Buy” from the thirteen analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $5.47.

Several equities research analysts recently issued reports on IAG shares. Credit Suisse Group reiterated a “buy” rating and issued a $6.00 price target on shares of Iamgold in a research note on Wednesday, January 16th. ValuEngine cut Iamgold from a “hold” rating to a “sell” rating in a research note on Saturday, January 19th. BMO Capital Markets restated a “buy” rating on shares of Iamgold in a research note on Friday, February 15th. Canaccord Genuity restated a “buy” rating on shares of Iamgold in a research note on Friday, February 15th. Finally, Zacks Investment Research upgraded Iamgold from a “sell” rating to a “hold” rating in a research note on Wednesday, December 26th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC lifted its stake in shares of Iamgold by 4.2% in the 4th quarter. LPL Financial LLC now owns 98,876 shares of the mining company’s stock valued at $364,000 after acquiring an additional 4,000 shares during the last quarter. Virtu Financial LLC lifted its stake in shares of Iamgold by 7.9% in the 4th quarter. Virtu Financial LLC now owns 74,149 shares of the mining company’s stock valued at $273,000 after acquiring an additional 5,407 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Iamgold by 3.2% in the 4th quarter. CIBC Asset Management Inc now owns 255,886 shares of the mining company’s stock valued at $939,000 after acquiring an additional 7,896 shares during the last quarter. Smithbridge Asset Management Inc. DE bought a new position in shares of Iamgold in the 1st quarter valued at $35,000. Finally, Maven Securities LTD bought a new position in shares of Iamgold in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 59.12% of the company’s stock.

Shares of IAG stock traded up $0.11 during trading on Thursday, hitting $3.44. The company had a trading volume of 4,317,624 shares, compared to its average volume of 5,510,122. The company has a current ratio of 4.78, a quick ratio of 3.57 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.54 billion, a P/E ratio of 57.33, a price-to-earnings-growth ratio of 20.24 and a beta of -0.35. Iamgold has a one year low of $2.75 and a one year high of $6.33.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Wednesday, February 20th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The company had revenue of $274.30 million during the quarter, compared to the consensus estimate of $273.84 million. Iamgold had a negative net margin of 2.54% and a positive return on equity of 1.07%. The company’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.03) earnings per share. Analysts forecast that Iamgold will post 0.06 EPS for the current year.

About Iamgold

IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine in Burkina Faso, West Africa; the Westwood mine in Quebec, Canada; and the Sadiola mine located in Mali, West Africa.

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Analyst Recommendations for Iamgold (NYSE:IAG)

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