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

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $6.57.

IAG has been the subject of a number of research reports. CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. StockNews.com upgraded IAMGOLD from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Raymond James raised shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, February 3rd.

Institutional Investors Weigh In On IAMGOLD

A number of large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its position in shares of IAMGOLD by 368.1% in 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 during the period. Allspring Global Investments Holdings LLC grew its stake in IAMGOLD by 27.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,289,000 shares of the mining company’s stock valued at $6,654,000 after buying an additional 277,000 shares during the last quarter. Semanteon Capital Management LP acquired a new position in IAMGOLD in the 3rd quarter valued at $503,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in IAMGOLD by 158.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company’s stock worth $24,301,000 after acquiring an additional 2,839,556 shares during the period. Finally, Van ECK Associates Corp lifted its position in IAMGOLD by 8.8% during the 3rd quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock worth $276,639,000 after acquiring an additional 4,267,084 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

IAMGOLD Trading Up 1.5 %

NYSE:IAG opened at $6.32 on Friday. The stock’s 50-day moving average is $5.76 and its two-hundred day moving average is $5.39. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. The stock has a market cap of $3.61 billion, a PE ratio of 4.93 and a beta of 1.56. IAMGOLD has a fifty-two week low of $2.48 and a fifty-two week high of $6.69.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Thursday, February 20th. The mining company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.05). IAMGOLD had a net margin of 49.56% and a return on equity of 10.01%. As a group, equities research analysts forecast that IAMGOLD will post 0.57 earnings per share for the current fiscal year.

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.