Iamgold Corp (NYSE:IAG) Given Consensus Recommendation of “Hold” by Analysts

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Iamgold Corp (NYSE:IAG) (TSE:IMG) has been assigned an average rating of “Hold” from the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $3.46.

Several brokerages have recently weighed in on IAG. CIBC restated an “average” rating on shares of Iamgold in a report on Sunday, August 4th. Credit Suisse Group cut Iamgold from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 8th. Zacks Investment Research raised Iamgold from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 26th. ValuEngine raised Iamgold from a “sell” rating to a “hold” rating in a research report on Friday, June 21st. Finally, CSFB cut Iamgold from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $4.75 to $3.75 in a research report on Thursday, August 8th.

A number of large investors have recently made changes to their positions in IAG. Marshall Wace North America L.P. raised its stake in shares of Iamgold by 54.3% in the first quarter. Marshall Wace North America L.P. now owns 607,822 shares of the mining company’s stock worth $2,109,000 after buying an additional 213,840 shares during the period. Alps Advisors Inc. raised its stake in shares of Iamgold by 45.2% in the second quarter. Alps Advisors Inc. now owns 1,997,377 shares of the mining company’s stock worth $6,751,000 after buying an additional 621,938 shares during the period. Hellman Jordan Management Co. Inc. MA bought a new position in shares of Iamgold in the first quarter worth about $45,000. Bank of Montreal Can raised its stake in shares of Iamgold by 1.1% in the second quarter. Bank of Montreal Can now owns 2,965,062 shares of the mining company’s stock worth $10,021,000 after buying an additional 30,937 shares during the period. Finally, Intact Investment Management Inc. raised its stake in shares of Iamgold by 9.4% in the second quarter. Intact Investment Management Inc. now owns 3,723,400 shares of the mining company’s stock worth $16,383,000 after buying an additional 320,700 shares during the period. 57.30% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:IAG traded up $0.10 on Thursday, hitting $3.54. 235,685 shares of the company traded hands, compared to its average volume of 4,824,648. Iamgold has a 52 week low of $2.28 and a 52 week high of $4.16. The company has a quick ratio of 3.05, a current ratio of 4.14 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $3.58 and a 200-day simple moving average of $3.26. The company has a market cap of $1.58 billion, a PE ratio of 59.08, a PEG ratio of 561.67 and a beta of 0.02.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Wednesday, August 7th. The mining company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). Iamgold had a negative net margin of 9.84% and a negative return on equity of 1.45%. The company had revenue of $246.50 million for the quarter, compared to the consensus estimate of $272.94 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. Iamgold’s revenue was down 11.1% compared to the same quarter last year.

Iamgold Company Profile

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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