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

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have received an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $6.57.

Several research analysts have recently issued reports on the company. CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. Raymond James raised IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, February 3rd. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, StockNews.com lowered IAMGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th.

IAMGOLD Trading Up 2.3 %

NYSE IAG opened at $5.91 on Tuesday. IAMGOLD has a fifty-two week low of $2.90 and a fifty-two week high of $6.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. The stock has a 50 day simple moving average of $5.88 and a two-hundred day simple moving average of $5.50. The stock has a market cap of $3.38 billion, a P/E ratio of 4.07 and a beta of 1.63.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Thursday, February 20th. The mining company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.05). IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. The business had revenue of $469.90 million during the quarter, compared to analysts’ expectations of $498.68 million. On average, analysts forecast that IAMGOLD will post 0.67 earnings per share for the current year.

Institutional Trading of IAMGOLD

A number of institutional investors and hedge funds have recently modified their holdings of the business. Donald Smith & CO. Inc. increased its holdings in shares of IAMGOLD by 0.7% in the 4th quarter. Donald Smith & CO. Inc. now owns 31,233,874 shares of the mining company’s stock worth $161,167,000 after purchasing an additional 216,751 shares in the last quarter. RCF Management L.L.C. bought a new stake in shares of IAMGOLD in the 4th quarter worth $128,174,000. Vanguard Group Inc. increased its holdings in shares of IAMGOLD by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 21,232,871 shares of the mining company’s stock worth $109,741,000 after purchasing an additional 321,458 shares in the last quarter. Millennium Management LLC boosted its stake in shares of IAMGOLD by 88.4% in the 4th quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company’s stock worth $53,307,000 after buying an additional 4,846,254 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of IAMGOLD by 25.9% in the 4th quarter. American Century Companies Inc. now owns 10,162,314 shares of the mining company’s stock worth $52,499,000 after buying an additional 2,092,803 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

IAMGOLD Company Profile

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.