IAMGOLD Co. (NYSE:IAG) Receives Average Recommendation of “Hold” from Analysts

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have been given a consensus rating of “Hold” by the five brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $4.73.

IAG has been the topic of several research analyst reports. Scotiabank raised their price objective on IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. StockNews.com upgraded shares of IAMGOLD from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. CIBC boosted their price objective on shares of IAMGOLD from $4.90 to $5.40 and gave the company a “neutral” rating in a research report on Monday, August 12th. Finally, National Bank Financial raised shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th.

IAMGOLD Price Performance

Shares of IAG stock opened at $5.08 on Friday. The firm has a fifty day moving average of $5.03 and a two-hundred day moving average of $4.27. The firm has a market cap of $2.89 billion, a P/E ratio of 18.14 and a beta of 1.59. IAMGOLD has a 1-year low of $2.11 and a 1-year high of $5.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.34 and a quick ratio of 0.90.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. The business had revenue of $385.30 million during the quarter. During the same quarter last year, the business posted ($0.01) earnings per share. As a group, research analysts anticipate that IAMGOLD will post 0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Helikon Investments Ltd boosted its position in shares of IAMGOLD by 250.5% during the first quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock worth $109,429,000 after buying an additional 23,485,183 shares during the period. Van ECK Associates Corp boosted its position in IAMGOLD by 8.2% during the 1st quarter. Van ECK Associates Corp now owns 52,053,035 shares of the mining company’s stock worth $173,340,000 after acquiring an additional 3,935,250 shares during the period. BNP Paribas Financial Markets grew its stake in shares of IAMGOLD by 326.7% in the first quarter. BNP Paribas Financial Markets now owns 609,440 shares of the mining company’s stock worth $2,029,000 after purchasing an additional 466,620 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of IAMGOLD during the first quarter valued at $389,000. Finally, Vanguard Group Inc. raised its stake in shares of IAMGOLD by 1.0% during the first quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock valued at $58,871,000 after purchasing an additional 168,302 shares in the last quarter. 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.