Iamgold Corporation (NYSE:IAG) Receives $15.25 Consensus Price Target from Analysts

Shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) have received a consensus recommendation of “Buy” from the eleven ratings firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $15.25.

A number of research analysts have issued reports on IAG shares. Raymond James Financial raised their price target on shares of Iamgold from $9.00 to $13.00 and gave the stock a “market perform” rating in a report on Friday, October 10th. Zacks Research lowered Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Royal Bank Of Canada raised Iamgold from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $9.00 to $14.00 in a research report on Wednesday, September 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Iamgold in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Iamgold from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th.

Institutional Trading of Iamgold

Several institutional investors and hedge funds have recently bought and sold shares of IAG. Van ECK Associates Corp lifted its position in Iamgold by 35.7% during the third quarter. Van ECK Associates Corp now owns 51,992,067 shares of the mining company’s stock valued at $672,253,000 after purchasing an additional 13,691,148 shares during the period. CI Investments Inc. acquired a new stake in Iamgold during the 3rd quarter worth about $96,747,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of Iamgold during the 1st quarter valued at about $45,911,000. Mackenzie Financial Corp raised its stake in shares of Iamgold by 183.5% during the 2nd quarter. Mackenzie Financial Corp now owns 7,614,294 shares of the mining company’s stock valued at $56,118,000 after buying an additional 4,928,077 shares during the last quarter. Finally, Bornite Capital Management LP acquired a new position in shares of Iamgold in the 2nd quarter valued at about $34,089,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Iamgold Price Performance

Shares of NYSE IAG opened at $13.68 on Friday. Iamgold has a fifty-two week low of $4.98 and a fifty-two week high of $14.68. The company has a market cap of $7.87 billion, a PE ratio of 9.84, a P/E/G ratio of 0.39 and a beta of 1.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.76 and a current ratio of 1.47. The business has a 50-day simple moving average of $12.48 and a two-hundred day simple moving average of $9.27.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.09. The firm had revenue of $714.61 million for the quarter, compared to the consensus estimate of $759.45 million. Iamgold had a net margin of 40.61% and a return on equity of 8.54%. As a group, equities analysts expect that Iamgold will post 0.67 EPS 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.