Economy

IAMGOLD Corp (IMG) Receives Average Recommendation of "Buy" from Analysts

Iamgold Corp (NYSE:IAG) as of current trade, has shown weekly performance of -2.28% which was maintained at -7.72% in one month period. Ameriprise Financial Inc. bought a new stake in shares of IAMGOLD in the 2nd quarter valued at approximately $600,000. BlueCrest Capital Management Ltd now owns 550,000 shares of the mining company's stock worth $3,207,000 after purchasing an additional 95,947 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of IAMGOLD by 171.4% in the 3rd quarter. Alliancebernstein L.P. now owns 32,900 shares of the mining company's stock valued at $170,000 after buying an additional 20,800 shares in the last quarter. Alps Advisors Inc. boosted its holdings in IAMGOLD by 12.9% in the third quarter. Finally, Hillsdale Investment Management Inc. boosted its holdings in IAMGOLD by 96.2% in the third quarter. Hedge funds and other institutional investors own 55.99% of the company's stock.

Other research analysts also recently issued research reports about the company. Zacks Investment Research raised IAMGOLD from a "hold" rating to a "strong-buy" rating and set a $6.75 price target for the company in a report on Wednesday, January 10th. Royal Bank of Canada set a $7.00 price objective on shares of IAMGOLD and gave the company a "hold" rating in a report on Friday, November 10th. TheStreet lowered shares of IAMGOLD from a "b" rating to a "c+" rating in a report on Thursday, November 16th.

Looking at the Analyst Recommendations of the stock, 3 Analysts issued a Buy for MoSys, 6 gave Outperform, 6 analysts gave Hold Rating, 2 issued Underperform and 0 marked the stock as Sell. The stock has an average rating of "Hold" and an average price target of $7.07.

More news: Goldman CEO Blankfein to Step Down as Soon as Year-End, WSJ Says

IAMGOLD (NYSE:IAG) opened at $5.35 on Wednesday. The stock exchanged hands 3.6 Million shares versus average trading capacity of 4.7 Million shares. IAMGOLD has a 1-year low of $3.36 and a 1-year high of $7.25. The firm has a market capitalization of $2,500.00, a PE ratio of 5.00, a price-to-earnings-growth ratio of 16.99 and a beta of -0.17. When we see the company's Volatility, it now has a monthly volatility of 4.43% and weekly volatility of 3.34%.

Looking forward to the ratio analysis, the IAMGOLD Corporation (NYSE:IAG) has price to earnings ratio of 4.81, which is indicating if firm is fluctuating between 15 and 25 than it lies on average position; but sometimes if it's under this value some experts consider it as undervalue security. The mining company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.05). The company had revenue of $291.10 million during the quarter, compared to analyst estimates of $280.04 million. IAMGOLD had a return on equity of 1.08% and a net margin of 45.81%. However a year ago for the same quarter the company has reported $0.01 EPS. For the current quarter Iamgold Corp (NYSE:IAG) has high EPS estimates of $0.06 in contradiction of low EPS estimates of $-0.01.

Renaissance Technologies LLC raised its holdings in shares of IAMGOLD Corp (NYSE:IAG) (TSE:IMG) by 13.9% during the 4th quarter, HoldingsChannel reports.



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