Iamgold Corporation (NYSE:IAG) (TSE:IMG) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $6.83 and last traded at $6.83, with a volume of 3,189,101 shares. The stock had previously closed at $6.71.

Several research firms recently issued reports on IAG. Royal Bank Of Canada set a $7.00 price target on shares of Iamgold Corporation and gave the stock a “hold” rating in a research report on Tuesday, August 29th. BMO Capital Markets raised shares of Iamgold Corporation from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $6.00 to $7.50 in a research report on Tuesday, August 22nd. BidaskClub raised shares of Iamgold Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. TheStreet raised shares of Iamgold Corporation from a “c-” rating to a “b” rating in a report on Thursday, August 17th. Finally, ValuEngine raised shares of Iamgold Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $6.46.

The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 6.27 and a beta of -0.40. The firm’s 50 day moving average price is $5.57 and its 200 day moving average price is $4.68.

Iamgold Corporation (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Wednesday, August 9th. The mining company reported $0.01 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.01. The business had revenue of $274.50 million during the quarter, compared to analysts’ expectations of $267.07 million. Iamgold Corporation had a net margin of 46.75% and a return on equity of 1.43%. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.01 EPS. On average, equities research analysts expect that Iamgold Corporation will post $0.03 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Nova Scotia increased its position in Iamgold Corporation by 61.7% in the 2nd quarter. Bank of Nova Scotia now owns 1,396,105 shares of the mining company’s stock valued at $7,203,000 after acquiring an additional 532,731 shares during the period. 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 valued at $110,000 after acquiring an additional 10,773 shares during the period. BlueCrest Capital Management Ltd acquired a new position in Iamgold Corporation in the 2nd quarter valued at approximately $4,103,000. Royal Bank of Canada increased its position in Iamgold Corporation by 496.5% in the 2nd quarter. Royal Bank of Canada now owns 4,484,298 shares of the mining company’s stock valued at $23,138,000 after acquiring an additional 3,732,543 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new position in Iamgold Corporation in the 2nd quarter valued at approximately $5,434,000. Hedge funds and other institutional investors own 56.35% of the company’s stock.

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About Iamgold Corporation

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.