Iamgold Corp. (IAG) Given Average Recommendation of “Hold” by Analysts
Iamgold Corp. (NYSE:IAG) has been given an average rating of “Hold” by the sixteen brokerages that are presently covering the stock. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $3.76.
Several equities analysts have issued reports on the company. Canaccord Genuity raised Iamgold Corp. from a “hold” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research lowered Iamgold Corp. from a “hold” rating to a “sell” rating in a report on Monday. Credit Suisse Group AG assumed coverage on Iamgold Corp. in a report on Thursday, August 18th. They set a “neutral” rating and a $5.25 price target on the stock. RBC Capital Markets raised Iamgold Corp. from an “underperform” rating to a “sector perform” rating and raised their price target for the stock from $5.50 to $6.50 in a report on Monday, August 8th. Finally, Royal Bank Of Canada raised Iamgold Corp. from an “underperform” rating to a “sector perform” rating and raised their price target for the stock from $5.50 to $6.50 in a report on Monday, August 8th.
Large investors have recently bought and sold shares of the stock. Cipher Capital LP bought a new stake in Iamgold Corp. during the second quarter worth about $101,000. World Asset Management Inc increased its stake in Iamgold Corp. by 10.7% in the second quarter. World Asset Management Inc now owns 24,961 shares of the mining company’s stock worth $103,000 after buying an additional 2,406 shares during the last quarter. ING Groep NV bought a new stake in Iamgold Corp. during the second quarter worth about $114,000. Dynamic Technology Lab Private Ltd bought a new stake in Iamgold Corp. during the second quarter worth about $122,000. Finally, Societe Generale bought a new stake in Iamgold Corp. during the second quarter worth about $148,000. Institutional investors own 48.37% of the company’s stock.
Shares of Iamgold Corp. (NYSE:IAG) traded up 4.92% on Wednesday, reaching $3.84. The company had a trading volume of 7,921,423 shares. The stock’s market capitalization is $1.56 billion. The company’s 50 day moving average price is $3.89 and its 200-day moving average price is $3.95. Iamgold Corp. has a 1-year low of $1.15 and a 1-year high of $5.87.
Iamgold Corp. (NYSE:IAG) last issued its quarterly earnings data on Wednesday, August 3rd. The mining company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03. The company had revenue of $232.50 million for the quarter, compared to analyst estimates of $245.68 million. Iamgold Corp. had a negative return on equity of 5.16% and a negative net margin of 80.04%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.08) earnings per share. Equities analysts predict that Iamgold Corp. will post $0.04 EPS for the current year.
About Iamgold Corp.
IAMGOLD Corporation (IAMGOLD) is engaged in the exploration, development and production of mineral resource properties across the world. Through its holdings, IAMGOLD has interests in various operations and exploration properties, as well as various royalty interests on mineral resource properties. All gold produced by IAMGOLD is in the form of dore bars, which is sold to gold refineries in North America and Europe.
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