IAMGOLD Co. (NYSE:IAG) Given Consensus Recommendation of "Moderate Buy" by Brokerages

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG has earned a consensus recommendation of "Moderate Buy" from the seven analysts that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $6.68.

IAG has been the topic of a number of analyst reports. Canaccord Genuity Group upgraded shares of IAMGOLD from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Scotiabank boosted their price target on shares of IAMGOLD from $4.75 to $5.50 and gave the company a "sector perform" rating in a report on Monday, August 19th. CIBC raised their price objective on IAMGOLD from $5.40 to $6.40 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. Royal Bank of Canada reiterated a "sector perform" rating and set a $6.00 target price on shares of IAMGOLD in a report on Tuesday, October 22nd. Finally, StockNews.com upgraded IAMGOLD from a "sell" rating to a "hold" rating in a report on Saturday, August 17th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in IAG. CIBC Asset Management Inc boosted its position in IAMGOLD by 2.6% during the third quarter. CIBC Asset Management Inc now owns 698,107 shares of the mining company's stock valued at $3,661,000 after purchasing an additional 17,608 shares during the last quarter. Aigen Investment Management LP boosted its holdings in shares of IAMGOLD by 10.6% in the 3rd quarter. Aigen Investment Management LP now owns 70,244 shares of the mining company's stock valued at $368,000 after buying an additional 6,704 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of IAMGOLD in the third quarter valued at $296,000. Van ECK Associates Corp increased its holdings in IAMGOLD by 8.8% during the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company's stock worth $276,639,000 after buying an additional 4,267,084 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new stake in IAMGOLD during the third quarter worth $231,000. Institutional investors and hedge funds own 47.08% of the company's stock.

IAMGOLD Trading Down 2.9 %

IAG stock traded down $0.16 during trading on Wednesday, hitting $5.18. The company had a trading volume of 9,437,085 shares, compared to its average volume of 9,079,331. The firm has a 50-day moving average price of $5.25 and a 200-day moving average price of $4.48. IAMGOLD has a 12 month low of $2.11 and a 12 month high of $6.37. The company has a quick ratio of 0.90, a current ratio of 1.34 and a debt-to-equity ratio of 0.30. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 21.32 and a beta of 1.57.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings data on Thursday, August 8th. The mining company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.08. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. The business had revenue of $385.30 million for the quarter. During the same quarter in the prior year, the company earned ($0.01) earnings per share. As a group, analysts predict that IAMGOLD will post 0.53 earnings per share for the current year.

IAMGOLD Company Profile

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.