Iamgold Corp (NYSE:IAG) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Iamgold Corp (NYSE:IAG) (TSE:IMG) have been given a consensus recommendation of “Hold” by the twelve research firms that are currently covering the company, MarketBeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $3.96.

A number of equities research analysts have recently weighed in on the company. CSFB set a $3.25 price objective on Iamgold and gave the stock a “hold” rating in a research report on Tuesday, May 5th. Stifel Nicolaus began coverage on shares of Iamgold in a report on Friday, April 17th. They issued a “hold” rating and a $5.75 price target on the stock. TheStreet upgraded shares of Iamgold from a “d” rating to a “c-” rating in a report on Wednesday, May 6th. Canaccord Genuity reaffirmed a “hold” rating and set a $4.75 target price on shares of Iamgold in a research note on Tuesday, May 5th. Finally, Zacks Investment Research downgraded shares of Iamgold from a “buy” rating to a “hold” rating in a research note on Wednesday, May 20th.

Several hedge funds have recently added to or reduced their stakes in the company. M&T Bank Corp purchased a new stake in shares of Iamgold during the 4th quarter valued at about $38,000. Macquarie Group Ltd. bought a new stake in Iamgold during the fourth quarter valued at approximately $37,000. Raymond James & Associates increased its holdings in Iamgold by 17.5% during the first quarter. Raymond James & Associates now owns 36,250 shares of the mining company’s stock valued at $82,000 after buying an additional 5,400 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in Iamgold during the fourth quarter valued at approximately $66,000. Finally, Two Sigma Securities LLC bought a new position in Iamgold in the first quarter worth approximately $39,000. Hedge funds and other institutional investors own 54.74% of the company’s stock.

Shares of NYSE IAG traded up $0.06 during midday trading on Friday, reaching $3.59. The company had a trading volume of 3,889,414 shares, compared to its average volume of 4,091,123. The stock has a market cap of $1.67 billion, a PE ratio of -4.13, a price-to-earnings-growth ratio of 7.47 and a beta of 0.90. Iamgold has a one year low of $1.44 and a one year high of $4.16. The firm’s fifty day moving average price is $3.63 and its 200-day moving average price is $3.20. The company has a quick ratio of 3.01, a current ratio of 4.08 and a debt-to-equity ratio of 0.20.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Monday, May 4th. The mining company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). Iamgold had a negative net margin of 37.26% and a negative return on equity of 0.94%. The company had revenue of $274.50 million for the quarter, compared to analysts’ expectations of $294.56 million. Iamgold’s revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts expect that Iamgold will post 0.16 EPS for the current year.

About Iamgold

IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine in Burkina Faso, West Africa; the Westwood mine in Quebec, Canada; and the Sadiola mine located in Mali, West Africa.

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Analyst Recommendations for Iamgold (NYSE:IAG)

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