Shares of Iamgold Corp (NYSE:IAG) (TSE:IMG) have been given a consensus recommendation of “Buy” by the thirteen brokerages that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $5.39.
A number of analysts recently issued reports on the company. Zacks Investment Research lowered Iamgold from a “hold” rating to a “sell” rating in a research note on Friday, January 4th. BMO Capital Markets set a $5.00 price objective on Iamgold and gave the company a “buy” rating in a research note on Saturday, February 2nd. ValuEngine upgraded Iamgold from a “sell” rating to a “hold” rating in a research note on Tuesday, January 29th. Royal Bank of Canada decreased their price objective on Iamgold from $6.00 to $5.00 and set a “hold” rating on the stock in a research note on Wednesday, January 23rd. Finally, Credit Suisse Group set a $6.00 price objective on Iamgold and gave the company a “hold” rating in a research note on Thursday, November 8th.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Sigma Planning Corp bought a new position in Iamgold in the 4th quarter worth about $47,000. HRT Financial LLC purchased a new position in shares of Iamgold in the 3rd quarter worth about $154,000. Sowell Financial Services LLC purchased a new position in shares of Iamgold in the 3rd quarter worth about $184,000. Tower Research Capital LLC TRC boosted its holdings in shares of Iamgold by 82.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 64,118 shares of the mining company’s stock worth $237,000 after purchasing an additional 28,902 shares in the last quarter. Finally, Creative Planning boosted its holdings in shares of Iamgold by 328.6% in the 4th quarter. Creative Planning now owns 72,390 shares of the mining company’s stock worth $266,000 after purchasing an additional 55,500 shares in the last quarter. Institutional investors and hedge funds own 54.91% of the company’s stock.
Shares of IAG traded down $0.01 during mid-day trading on Wednesday, hitting $3.48. The stock had a trading volume of 31,036 shares, compared to its average volume of 5,701,858. The firm has a market cap of $1.63 billion, a PE ratio of 58.58, a PEG ratio of 18.18 and a beta of -0.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.31 and a quick ratio of 3.40. Iamgold has a 52 week low of $2.75 and a 52 week high of $6.33.
IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. It also explores for copper and silver. The company owns interests in the Rosebel gold mine located in north eastern Suriname, South America; the Essakane gold mine in north-eastern Burkina Faso, West Africa; the Westwood gold mine in southwestern Québec, Canada; and the Sadiola Gold Mine located in southwest Mali, West Africa.
Further Reading: What is the quiet period?