Iamgold Corporation (NYSE:IAG) Receives $17.75 Consensus PT from Analysts

Iamgold Corporation (NYSE:IAG) (TSE:IMG) has received an average rating of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $17.75.

Several research analysts have commented on IAG shares. Zacks Research downgraded shares of Iamgold from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Iamgold in a report on Tuesday, April 21st. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Iamgold in a report on Wednesday, February 4th. Scotiabank increased their price objective on shares of Iamgold to $25.00 and gave the company a “sector perform” rating in a report on Wednesday, February 25th. Finally, Wall Street Zen raised shares of Iamgold from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st.

Insider Activity at Iamgold

In other Iamgold news, Director David Stewart Smith sold 31,000 shares of the stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $32.87, for a total transaction of $1,018,970.00. Following the completion of the transaction, the director owned 20,000 shares of the company’s stock, valued at $657,400. This represents a 60.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its holdings in shares of Iamgold by 14.0% in the 1st quarter. Royal Bank of Canada now owns 691,322 shares of the mining company’s stock valued at $4,321,000 after acquiring an additional 84,939 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Iamgold by 6.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,420,263 shares of the mining company’s stock valued at $15,127,000 after acquiring an additional 144,160 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Iamgold by 67.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,005,292 shares of the mining company’s stock valued at $6,283,000 after acquiring an additional 404,645 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Iamgold by 64.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 228,257 shares of the mining company’s stock valued at $1,678,000 after acquiring an additional 89,197 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Iamgold by 16.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 532,137 shares of the mining company’s stock valued at $3,899,000 after acquiring an additional 77,016 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

Iamgold Trading Down 8.1%

Shares of IAG stock opened at $16.97 on Friday. Iamgold has a 52-week low of $6.06 and a 52-week high of $24.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.89. The firm has a market capitalization of $9.81 billion, a PE ratio of 9.87, a PEG ratio of 0.83 and a beta of 1.26. The stock has a fifty day simple moving average of $18.69 and a two-hundred day simple moving average of $17.72.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. Iamgold had a return on equity of 26.65% and a net margin of 29.49%.The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $955.17 million. On average, analysts predict that Iamgold will post 2.24 EPS for the current fiscal 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.