Iamgold Corporation (NYSE:IAG) Stock Has Consensus Target Price of $22.71 According to Analysts

Shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $22.71.

Several equities analysts recently issued reports on IAG shares. Freedom Broker lowered their price objective on Iamgold from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. Wall Street Zen downgraded Iamgold from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th. Scotiabank lifted their target price on Iamgold from $22.00 to $23.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 12th. Zacks Research lowered Iamgold from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 20th. Finally, Weiss Ratings cut Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, October 26th.

Iamgold Trading Up 7.0%

Shares of NYSE IAG opened at $18.72 on Friday. The firm’s 50 day moving average price is $18.63 and its 200-day moving average price is $18.34. The company has a market cap of $10.61 billion, a PE ratio of 8.28, a P/E/G ratio of 1.39 and a beta of 1.39. Iamgold has a 52-week low of $12.03 and a 52-week high of $24.87. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.05 and a current ratio of 1.71.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Thursday, November 5th. The mining company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $843.58 million for the quarter, compared to analysts’ expectations of $826.66 million. Iamgold had a net margin of 34.29% and a return on equity of 29.18%. On average, equities research analysts expect that Iamgold will post 1.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Iamgold

Institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. raised its position in Iamgold by 124.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 306,313 shares of the mining company’s stock worth $5,659,000 after buying an additional 169,852 shares during the last quarter. Ritholtz Wealth Management bought a new position in Iamgold during the 3rd quarter valued at about $1,716,000. Gen Wealth Partners Inc bought a new position in Iamgold during the 3rd quarter valued at about $37,000. Leuthold Group LLC lifted its stake in Iamgold by 6.3% during the 3rd quarter. Leuthold Group LLC now owns 593,982 shares of the mining company’s stock valued at $10,935,000 after acquiring an additional 35,435 shares during the period. Finally, Euro Pacific Asset Management LLC boosted its holdings in shares of Iamgold by 5.4% during the 3rd quarter. Euro Pacific Asset Management LLC now owns 1,345,587 shares of the mining company’s stock valued at $24,772,000 after acquiring an additional 68,961 shares during the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

About Iamgold

IAMGOLD Corporation is a Canadian gold mining company that explores for, develops and operates mineral properties. Its business is focused primarily on producing gold, with operations in Canada and Burkina Faso.

The company’s assets include the Côté Gold mine in Ontario, the Westwood mine in Quebec and the Essakane mine in Burkina Faso. IAMGOLD also conducts exploration and development work to support its operating mines and assess potential mineral resources.

Founded in 1990, IAMGOLD has built a portfolio spanning North America and West Africa.