Iamgold Corp (NYSE:IAG) (TSE:IMG) has been assigned an average rating of “Hold” from the thirteen ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $3.83.
A number of research firms have weighed in on IAG. Royal Bank of Canada started coverage on Iamgold in a research report on Wednesday. They issued a “hold” rating and a $3.75 target price for the company. Zacks Investment Research cut Iamgold from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. ValuEngine cut Iamgold from a “sell” rating to a “strong sell” rating in a research report on Friday, November 29th. Finally, Raymond James reissued a “market perform” rating and issued a $5.00 price objective on shares of Iamgold in a research note on Friday, November 8th.
In other news, insider Harmer Peter sold 100,000 shares of Iamgold stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $7.91, for a total value of $790,700.00.
Several hedge funds and other institutional investors have recently bought and sold shares of IAG. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Iamgold by 46.0% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,989,092 shares of the mining company’s stock worth $6,902,000 after acquiring an additional 626,792 shares during the last quarter. SG Americas Securities LLC increased its stake in Iamgold by 7.3% in the 2nd quarter. SG Americas Securities LLC now owns 129,316 shares of the mining company’s stock worth $437,000 after purchasing an additional 8,852 shares in the last quarter. Intact Investment Management Inc. increased its stake in Iamgold by 9.4% in the 2nd quarter. Intact Investment Management Inc. now owns 3,723,400 shares of the mining company’s stock worth $16,383,000 after purchasing an additional 320,700 shares in the last quarter. Swiss National Bank raised its holdings in Iamgold by 2.4% during the 2nd quarter. Swiss National Bank now owns 876,500 shares of the mining company’s stock worth $2,965,000 after buying an additional 20,600 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in Iamgold by 20.9% during the 2nd quarter. CIBC Asset Management Inc now owns 387,492 shares of the mining company’s stock worth $1,311,000 after buying an additional 67,062 shares during the period. 59.16% of the stock is currently owned by institutional investors.
Shares of NYSE:IAG traded down $0.09 during trading on Tuesday, reaching $3.48. The company had a trading volume of 4,214,871 shares, compared to its average volume of 3,362,778. The firm’s fifty day moving average is $3.56 and its 200 day moving average is $3.42. The firm has a market capitalization of $1.67 billion, a PE ratio of 58.00, a price-to-earnings-growth ratio of 47.60 and a beta of -0.06. Iamgold has a twelve month low of $2.28 and a twelve month high of $4.16. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.98 and a current ratio of 4.07.
Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Wednesday, November 6th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.02). Iamgold had a negative net margin of 8.94% and a negative return on equity of 1.33%. The company had revenue of $274.40 million during the quarter. Equities analysts predict that Iamgold will post 0.03 earnings per share for the current fiscal year.
Iamgold Company Profile
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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