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

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) has been assigned an average rating of “Moderate Buy” from the nine analysts that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $6.57.

Several research firms recently weighed in on IAG. Raymond James raised IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, StockNews.com lowered IAMGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th.

IAMGOLD Stock Up 3.0 %

Shares of NYSE IAG opened at $6.07 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. IAMGOLD has a 52 week low of $2.90 and a 52 week high of $6.69. The stock has a market capitalization of $3.47 billion, a P/E ratio of 4.18 and a beta of 1.63. The stock’s fifty day moving average is $5.89 and its 200 day moving average is $5.51.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Thursday, February 20th. The mining company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. The company had revenue of $469.90 million during the quarter, compared to the consensus estimate of $498.68 million. Sell-side analysts forecast that IAMGOLD will post 0.67 earnings per share for the current fiscal year.

Institutional Trading of IAMGOLD

Hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of IAMGOLD by 27.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,289,000 shares of the mining company’s stock valued at $6,654,000 after purchasing an additional 277,000 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of IAMGOLD by 368.1% during the third quarter. BNP Paribas Financial Markets now owns 1,521,670 shares of the mining company’s stock valued at $7,772,000 after purchasing an additional 1,196,564 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of IAMGOLD by 158.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company’s stock valued at $24,301,000 after purchasing an additional 2,839,556 shares in the last quarter. Cibc World Market Inc. boosted its stake in shares of IAMGOLD by 54.0% during the fourth quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company’s stock valued at $26,452,000 after purchasing an additional 1,795,869 shares in the last quarter. Finally, Triasima Portfolio Management inc. lifted its stake in shares of IAMGOLD by 44.5% in the fourth quarter. Triasima Portfolio Management inc. now owns 352,315 shares of the mining company’s stock worth $1,820,000 after acquiring an additional 108,524 shares during the period. 47.08% of the stock is owned by institutional investors and hedge funds.

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.