Brokerages Set Iamgold Corporation (NYSE:IAG) PT at $19.20

Shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) have been given a consensus rating of “Moderate Buy” by the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $20.00.

Several equities analysts recently commented on IAG shares. Wall Street Zen raised shares of Iamgold from a “hold” rating to a “buy” rating in a research report on Saturday. Scotiabank lifted their price target on shares of Iamgold from $22.00 to $23.00 and gave the company a “sector perform” rating in a report on Wednesday, August 12th. Royal Bank Of Canada decreased their price target on shares of Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Jefferies Financial Group started coverage on shares of Iamgold in a research note on Thursday. They set a “buy” rating and a $24.00 price objective for the company. Finally, Weiss Ratings downgraded Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th.

Iamgold Stock Up 3.0%

Shares of NYSE:IAG opened at $21.11 on Tuesday. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 0.10. The firm has a market cap of $12.12 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 1.12 and a beta of 1.32. The stock’s 50-day moving average price is $16.27 and its two-hundred day moving average price is $18.01. Iamgold has a 12-month low of $8.29 and a 12-month high of $24.87.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Thursday, August 6th. The mining company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. The company had revenue of $845.97 million during the quarter, compared to the consensus estimate of $882.92 million. On average, research analysts forecast that Iamgold will post 1.92 EPS for the current year.

Institutional Investors Weigh In On Iamgold

A number of institutional investors have recently added to or reduced their stakes in IAG. Pin Oak Investment Advisors Inc. purchased a new position in shares of Iamgold in the 2nd quarter worth about $28,000. Global Retirement Partners LLC acquired a new position in shares of Iamgold in the 4th quarter valued at about $33,000. Western Wealth Management LLC purchased a new stake in shares of Iamgold during the 1st quarter worth about $43,000. EverSource Wealth Advisors LLC grew its holdings in shares of Iamgold by 73.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,712 shares of the mining company’s stock worth $51,000 after purchasing an additional 1,150 shares during the period. Finally, Banque Cantonale Vaudoise increased its position in Iamgold by 617.8% during the 4th quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company’s stock worth $49,000 after purchasing an additional 2,570 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

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.