Iamgold Corporation (NYSE:IAG) Receives $8.29 Consensus PT from Analysts

Shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) have received an average rating of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $8.29.

Several equities research analysts recently issued reports on IAG shares. BMO Capital Markets started coverage on shares of Iamgold in a research note on Wednesday, April 16th. They issued an “outperform” rating for the company. National Bank Financial raised shares of Iamgold to a “strong-buy” rating in a research note on Friday, March 21st. Wall Street Zen lowered shares of Iamgold from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Scotiabank lifted their price objective on shares of Iamgold from $7.50 to $7.75 and gave the company a “sector perform” rating in a research note on Monday, May 12th. Finally, CIBC boosted their target price on shares of Iamgold from $8.40 to $9.20 and gave the stock an “outperformer” rating in a research report on Thursday, May 8th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IAG. RCF Management L.L.C. bought a new position in shares of Iamgold during the 4th quarter worth about $128,174,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Iamgold during the 1st quarter worth about $45,911,000. Millennium Management LLC increased its holdings in shares of Iamgold by 88.4% during the 4th quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company’s stock worth $53,307,000 after purchasing an additional 4,846,254 shares during the period. Nuveen LLC bought a new position in shares of Iamgold during the 1st quarter worth about $20,620,000. Finally, Anson Funds Management LP increased its holdings in shares of Iamgold by 2,100.0% during the 1st quarter. Anson Funds Management LP now owns 3,300,000 shares of the mining company’s stock worth $20,598,000 after purchasing an additional 3,150,000 shares during the period. Institutional investors own 47.08% of the company’s stock.

Iamgold Trading Up 1.1%

Shares of NYSE:IAG opened at $7.33 on Thursday. The firm has a fifty day moving average of $7.11 and a two-hundred day moving average of $6.30. The firm has a market capitalization of $4.22 billion, a P/E ratio of 5.20, a price-to-earnings-growth ratio of 0.37 and a beta of 1.15. Iamgold has a 12-month low of $3.44 and a 12-month high of $8.38. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.29.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its earnings results on Tuesday, May 6th. The mining company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. The company had revenue of $457.23 million during the quarter, compared to analyst estimates of $578.70 million. Iamgold had a net margin of 45.42% and a return on equity of 9.26%. On average, equities analysts expect that Iamgold will post 0.67 EPS for the current fiscal year.

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.