Iamgold Corporation (NYSE:IAG) (TSE:IMG) was upgraded by investment analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday, August 22nd, MarketBeat reports. The brokerage presently has a $7.50 price target on the mining company’s stock, up from their prior price target of $6.00. BMO Capital Markets’ price objective indicates a potential upside of 8.54% from the company’s current price.
IAG has been the subject of a number of other reports. TheStreet raised Iamgold Corporation from a “c-” rating to a “b” rating in a research note on Thursday, August 17th. Bank of America Corporation raised Iamgold Corporation from an “underperform” rating to a “neutral” rating in a research note on Tuesday, May 23rd. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Iamgold Corporation in a research note on Wednesday, July 12th. National Bank Financial reaffirmed an “outperform market weight” rating on shares of Iamgold Corporation in a research note on Sunday, May 14th. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $5.00 price target on shares of Iamgold Corporation in a research note on Wednesday, June 7th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $6.54.
Shares of Iamgold Corporation (NYSE IAG) traded down 0.29% during mid-day trading on Tuesday, reaching $6.91. 11,176,204 shares of the company were exchanged. The stock has a market capitalization of $3.21 billion, a P/E ratio of 6.30 and a beta of -0.40. The stock has a 50 day moving average price of $5.68 and a 200-day moving average price of $4.71. Iamgold Corporation has a 12 month low of $3.14 and a 12 month high of $7.15.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Wednesday, August 9th. The mining company reported $0.01 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.01. Iamgold Corporation had a return on equity of 1.43% and a net margin of 46.75%. The firm had revenue of $274.50 million during the quarter, compared to analyst estimates of $267.07 million. During the same period last year, the company posted $0.01 EPS. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. Analysts predict that Iamgold Corporation will post $0.03 earnings per share for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. increased its position in Iamgold Corporation by 102.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 21,299 shares of the mining company’s stock worth $110,000 after buying an additional 10,773 shares during the period. Sprott Inc. bought a new position in Iamgold Corporation in the 2nd quarter worth approximately $114,000. Quantbot Technologies LP bought a new position in Iamgold Corporation in the 2nd quarter worth approximately $131,000. Comerica Bank increased its position in Iamgold Corporation by 1.9% in the 1st quarter. Comerica Bank now owns 25,820 shares of the mining company’s stock worth $104,000 after buying an additional 485 shares during the period. Finally, Acadian Asset Management LLC bought a new position in Iamgold Corporation in the 2nd quarter worth approximately $137,000. 56.35% of the stock is currently owned by institutional investors.
Iamgold Corporation Company Profile
IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.
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