Iamgold Corporation (IAG) Given Average Rating of “Hold” by Brokerages
Iamgold Corporation (NYSE:IAG) (TSE:IMG) has been assigned an average rating of “Hold” from the fourteen research firms that are presently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $6.96.
Several analysts recently weighed in on IAG shares. TheStreet upgraded Iamgold Corporation from a “c-” rating to a “b” rating in a report on Thursday, August 17th. Royal Bank Of Canada restated a “hold” rating on shares of Iamgold Corporation in a report on Wednesday, July 12th. CIBC upgraded Iamgold Corporation from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $6.93 to $7.00 in a report on Wednesday, September 6th. Credit Suisse Group restated a “hold” rating and issued a $5.00 price objective on shares of Iamgold Corporation in a report on Wednesday, June 7th. Finally, BMO Capital Markets upgraded Iamgold Corporation from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $6.00 to $7.50 in a report on Tuesday, August 22nd.
Iamgold Corporation (IAG) traded up 0.96% during mid-day trading on Friday, hitting $6.31. 9,455,313 shares of the stock were exchanged. The stock has a 50 day moving average of $6.08 and a 200-day moving average of $4.89. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 5.75 and a beta of -0.40. Iamgold Corporation has a 52-week low of $3.14 and a 52-week high of $7.25.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last released its earnings results on Wednesday, August 9th. The mining company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. Iamgold Corporation had a return on equity of 1.43% and a net margin of 46.75%. The business had revenue of $274.50 million during the quarter, compared to the consensus estimate of $267.07 million. During the same period last year, the company earned $0.01 earnings per share. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. Equities analysts predict that Iamgold Corporation will post $0.05 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of IAG. Comerica Bank grew its stake in Iamgold Corporation by 1.9% in the first quarter. Comerica Bank now owns 25,820 shares of the mining company’s stock valued at $104,000 after purchasing an additional 485 shares during the last quarter. World Asset Management Inc grew its stake in Iamgold Corporation by 3.9% in the first quarter. World Asset Management Inc now owns 27,537 shares of the mining company’s stock valued at $110,000 after purchasing an additional 1,040 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Iamgold Corporation by 102.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 21,299 shares of the mining company’s stock valued at $110,000 after purchasing an additional 10,773 shares during the last quarter. Sprott Inc. purchased a new position in Iamgold Corporation in the second quarter valued at about $114,000. Finally, Quantbot Technologies LP purchased a new position in Iamgold Corporation in the second quarter valued at about $131,000. Institutional investors own 56.35% of the company’s stock.
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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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