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

Iamgold Corporation (NYSE:IAG) (TSE:IMG) has earned an average rating of “Buy” from the ten ratings firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $17.75.

IAG has been the subject of several analyst reports. Zacks Research raised Iamgold from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Wall Street Zen upgraded Iamgold from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a research report on Thursday, January 22nd. Scotiabank lifted their price objective on shares of Iamgold to $25.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 25th. Finally, TD Securities reiterated a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th.

Iamgold Stock Up 4.0%

Shares of NYSE IAG opened at $17.70 on Friday. The firm’s 50-day moving average price is $20.47 and its 200-day moving average price is $16.24. The company has a current ratio of 1.75, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $10.40 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 1.35 and a beta of 1.33. Iamgold has a 12-month low of $5.35 and a 12-month high of $24.87.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Tuesday, February 17th. The mining company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.15. Iamgold had a net margin of 23.29% and a return on equity of 19.26%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. On average, equities research analysts anticipate that Iamgold will post 0.67 EPS for the current fiscal year.

Insider Activity at Iamgold

In related news, Director David Stewart Smith sold 31,000 shares of Iamgold 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 directly owned 20,000 shares of the company’s stock, valued at approximately $657,400. The trade was a 60.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Iamgold

Several institutional investors have recently added to or reduced their stakes in the company. Mariner LLC increased its holdings in Iamgold by 0.6% during the 4th quarter. Mariner LLC now owns 110,033 shares of the mining company’s stock worth $1,814,000 after purchasing an additional 615 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in shares of Iamgold by 1.9% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 37,000 shares of the mining company’s stock worth $612,000 after buying an additional 700 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Iamgold by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company’s stock worth $2,849,000 after buying an additional 1,303 shares during the period. Northwest & Ethical Investments L.P. grew its position in shares of Iamgold by 0.4% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company’s stock worth $5,716,000 after buying an additional 1,424 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Iamgold by 4.8% during the 4th quarter. Franklin Resources Inc. now owns 32,011 shares of the mining company’s stock worth $528,000 after buying an additional 1,474 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.

About Iamgold

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.