Iamgold Corporation (NYSE:IAG) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) have been assigned an average rating of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $17.75.

Several brokerages have recently issued reports on IAG. Scotiabank upped their price objective on Iamgold to $25.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Iamgold in a report on Thursday, January 22nd. Wall Street Zen raised Iamgold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Iamgold in a research note on Wednesday, February 4th. Finally, TD Securities restated a “buy” rating on shares of Iamgold in a report on Thursday, February 19th.

Insider Transactions at Iamgold

In related news, Director David Stewart Smith sold 31,000 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $32.87, for a total value of $1,018,970.00. Following the transaction, the director owned 20,000 shares in the company, valued at approximately $657,400. This trade represents a 60.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Iamgold

Large investors have recently made changes to their positions in the business. Tsfg LLC acquired a new position in shares of Iamgold during the 3rd quarter valued at $26,000. Banque Transatlantique SA acquired a new stake in Iamgold in the 2nd quarter valued at $26,000. Pin Oak Investment Advisors Inc. acquired a new stake in Iamgold in the 4th quarter valued at $30,000. Global Retirement Partners LLC purchased a new position in Iamgold in the fourth quarter valued at about $33,000. Finally, FNY Investment Advisers LLC purchased a new position in Iamgold in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Iamgold Trading Down 9.2%

NYSE IAG opened at $16.82 on Wednesday. The company has a market cap of $9.76 billion, a P/E ratio of 14.62, a P/E/G ratio of 1.25 and a beta of 1.46. Iamgold has a 12 month low of $6.06 and a 12 month high of $24.87. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.75 and a quick ratio of 1.02. The company has a 50-day moving average of $20.22 and a 200-day moving average of $17.24.

Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Tuesday, February 17th. The mining company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.15. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Iamgold had a net margin of 23.29% and a return on equity of 19.26%. As a group, equities analysts predict that Iamgold will post 2.23 earnings per share for the current year.

Iamgold Company Profile

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.