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

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have been given an average rating of “Moderate Buy” by the nine research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $6.57.

A number of brokerages have commented on IAG. Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. StockNews.com cut IAMGOLD from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. Royal Bank of Canada reissued a “sector perform” rating and set a $6.00 target price on shares of IAMGOLD in a research report on Tuesday, October 22nd. 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 report on Tuesday, October 22nd.

IAMGOLD Trading Up 4.4 %

NYSE:IAG opened at $6.06 on Monday. IAMGOLD has a 12-month low of $2.32 and a 12-month high of $6.37. The firm has a market cap of $3.46 billion, a PE ratio of 4.73 and a beta of 1.56. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The stock has a fifty day moving average price of $5.46 and a 200 day moving average price of $5.10.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Thursday, November 7th. The mining company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. The business had revenue of $438.90 million during the quarter. IAMGOLD had a return on equity of 10.01% and a net margin of 49.56%. During the same period in the prior year, the firm posted ($0.01) earnings per share. Sell-side analysts anticipate that IAMGOLD will post 0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IAMGOLD

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC grew its position in shares of IAMGOLD by 194.2% during the second quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company’s stock worth $29,573,000 after acquiring an additional 5,204,715 shares during the last quarter. FMR LLC grew its position in IAMGOLD by 107.9% during the 3rd quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock worth $46,174,000 after purchasing an additional 4,577,599 shares during the last quarter. Van ECK Associates Corp increased its stake in IAMGOLD by 8.8% in the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock valued at $276,639,000 after purchasing an additional 4,267,084 shares during the period. Two Sigma Advisers LP raised its stake in IAMGOLD by 58.8% during the 3rd quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company’s stock valued at $52,735,000 after acquiring an additional 3,732,315 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in IAMGOLD by 130.6% during the 3rd quarter. Bank of Montreal Can now owns 5,384,778 shares of the mining company’s stock worth $28,385,000 after acquiring an additional 3,049,252 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.

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.