Iamgold Corporation (IAG) Receives Average Recommendation of “Hold” from Brokerages

Shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) have been given an average recommendation of “Hold” by the thirteen research firms that are currently covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $7.19.

Several research firms have recently commented on IAG. Zacks Investment Research downgraded shares of Iamgold Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Royal Bank Of Canada set a $7.00 target price on shares of Iamgold Corporation and gave the company a “hold” rating in a research report on Friday. BidaskClub raised shares of Iamgold Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. BMO Capital Markets reissued a “buy” rating and set a $8.00 target price on shares of Iamgold Corporation in a research report on Monday, October 2nd. Finally, ValuEngine raised shares of Iamgold Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IAG. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Iamgold Corporation by 102.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 21,299 shares of the mining company’s stock worth $110,000 after purchasing an additional 10,773 shares during the period. Sigma Planning Corp purchased a new position in shares of Iamgold Corporation in the 3rd quarter worth about $130,000. Quantbot Technologies LP purchased a new position in shares of Iamgold Corporation in the 2nd quarter worth about $131,000. Acadian Asset Management LLC purchased a new position in shares of Iamgold Corporation in the 2nd quarter worth about $137,000. Finally, Alliancebernstein L.P. raised its holdings in shares of Iamgold Corporation by 171.9% in the 2nd quarter. Alliancebernstein L.P. now owns 32,900 shares of the mining company’s stock worth $170,000 after purchasing an additional 20,800 shares during the period. Hedge funds and other institutional investors own 54.13% of the company’s stock.

Shares of Iamgold Corporation (IAG) traded down $0.17 during midday trading on Monday, hitting $5.74. The company had a trading volume of 3,540,000 shares, compared to its average volume of 4,390,000. Iamgold Corporation has a twelve month low of $3.16 and a twelve month high of $7.25. The company has a quick ratio of 3.85, a current ratio of 4.78 and a debt-to-equity ratio of 0.14. The firm has a market cap of $2,670.00, a PE ratio of 59.10, a price-to-earnings-growth ratio of 29.19 and a beta of -0.53.

Iamgold Corporation (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Tuesday, November 7th. The mining company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.05. Iamgold Corporation had a net margin of 48.66% and a return on equity of 1.81%. The firm had revenue of $268.80 million during the quarter, compared to the consensus estimate of $268.62 million. During the same period last year, the business posted $0.05 earnings per share. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. sell-side analysts expect that Iamgold Corporation will post 0.07 EPS for the current year.

Iamgold Corporation Company Profile

IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.

Analyst Recommendations for Iamgold Corporation (NYSE:IAG)

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