Iamgold’s (IAG) “Buy” Rating Reiterated at TD Securities

TD Securities restated their buy rating on shares of Iamgold (NYSE:IAG) (TSE:IMG) in a research report sent to investors on Thursday.

Several other research analysts also recently commented on the company. BMO Capital Markets restated a buy rating and issued a $7.00 target price on shares of Iamgold in a research note on Friday, September 21st. ValuEngine downgraded Iamgold from a hold rating to a sell rating in a research note on Friday, August 17th. Royal Bank of Canada set a $6.00 target price on Iamgold and gave the stock a hold rating in a research note on Thursday, October 11th. Canaccord Genuity restated a buy rating on shares of Iamgold in a research note on Sunday, October 21st. Finally, TheStreet downgraded Iamgold from a c- rating to a d+ rating in a research note on Wednesday, October 31st. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $6.68.

NYSE IAG traded down $0.14 during trading hours on Thursday, hitting $3.13. The company had a trading volume of 6,639,229 shares, compared to its average volume of 4,062,517. Iamgold has a 52 week low of $3.08 and a 52 week high of $6.52. The company has a quick ratio of 3.80, a current ratio of 4.72 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.69 billion, a P/E ratio of 52.17, a P/E/G ratio of 10.08 and a beta of -0.19.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its earnings results on Tuesday, November 6th. The mining company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). Iamgold had a positive return on equity of 1.14% and a negative net margin of 0.98%. The business had revenue of $244.80 million during the quarter, compared to the consensus estimate of $266.17 million. During the same quarter last year, the company earned $0.07 EPS. The firm’s revenue was down 8.9% compared to the same quarter last year. Equities research analysts anticipate that Iamgold will post 0.12 EPS for the current year.

Several large investors have recently added to or reduced their stakes in IAG. JPMorgan Chase & Co. raised its holdings in shares of Iamgold by 723.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,045,048 shares of the mining company’s stock valued at $48,006,000 after acquiring an additional 11,461,355 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Iamgold by 69.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,959,287 shares of the mining company’s stock valued at $46,243,000 after acquiring an additional 3,269,020 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Iamgold by 4.7% in the 2nd quarter. Van ECK Associates Corp now owns 64,001,511 shares of the mining company’s stock valued at $371,849,000 after acquiring an additional 2,862,271 shares in the last quarter. FMR LLC raised its holdings in shares of Iamgold by 65.2% in the 2nd quarter. FMR LLC now owns 3,032,450 shares of the mining company’s stock valued at $17,669,000 after acquiring an additional 1,197,000 shares in the last quarter. Finally, Capital Fund Management S.A. raised its holdings in shares of Iamgold by 41.7% in the 2nd quarter. Capital Fund Management S.A. now owns 3,074,655 shares of the mining company’s stock valued at $17,864,000 after acquiring an additional 904,111 shares in the last quarter. 53.42% of the stock is currently owned by hedge funds and other institutional investors.

Iamgold Company Profile

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.

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