Iamgold’s (IAG) Buy Rating Reiterated at Desjardins
Desjardins reissued their buy rating on shares of Iamgold (NYSE:IAG) (TSE:IMG) in a report published on Monday morning. Desjardins also issued estimates for Iamgold’s FY2017 earnings at $0.13 EPS, FY2018 earnings at $0.09 EPS, FY2019 earnings at $0.19 EPS, FY2020 earnings at $0.18 EPS and FY2021 earnings at $0.15 EPS.
Several other analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Iamgold from a hold rating to a buy rating and set a $6.50 price objective on the stock in a research report on Monday, October 23rd. Raymond James Financial raised their price objective on shares of Iamgold from $6.00 to $7.25 and gave the company a market perform rating in a research report on Thursday, September 7th. Canaccord Genuity cut shares of Iamgold from a buy rating to a hold rating and set a $8.07 price objective on the stock. in a research report on Friday, September 29th. BMO Capital Markets restated a buy rating and set a $8.00 price objective on shares of Iamgold in a research report on Monday, October 2nd. Finally, Royal Bank of Canada set a $7.00 price objective on shares of Iamgold and gave the company a hold rating in a research report on Friday, November 10th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Iamgold presently has an average rating of Hold and a consensus price target of $7.10.
Iamgold (IAG) opened at $5.48 on Monday. The company has a quick ratio of 3.85, a current ratio of 4.78 and a debt-to-equity ratio of 0.14. Iamgold has a fifty-two week low of $3.16 and a fifty-two week high of $7.25. The company has a market cap of $2,550.00, a price-to-earnings ratio of 52.30, a price-to-earnings-growth ratio of 20.51 and a beta of -0.57.
Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Tuesday, November 7th. The mining company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.05. The firm had revenue of $268.80 million during the quarter, compared to the consensus estimate of $268.62 million. Iamgold had a net margin of 48.66% and a return on equity of 1.81%. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period last year, the firm earned $0.05 EPS. equities research analysts anticipate that Iamgold will post 0.09 earnings per share for the current year.
A number of large investors have recently modified their holdings of the stock. Virtu Financial LLC raised its position in Iamgold by 204.5% in the 3rd quarter. Virtu Financial LLC now owns 162,480 shares of the mining company’s stock worth $299,000 after purchasing an additional 109,116 shares during the period. Cubist Systematic Strategies LLC raised its position in Iamgold by 1,083.0% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 124,726 shares of the mining company’s stock worth $762,000 after purchasing an additional 114,183 shares during the period. U S Global Investors Inc. raised its position in Iamgold by 113.9% in the 3rd quarter. U S Global Investors Inc. now owns 28,955 shares of the mining company’s stock worth $177,000 after purchasing an additional 15,419 shares during the period. Magnetar Financial LLC purchased a new position in Iamgold in the 3rd quarter worth $542,000. Finally, OxFORD Asset Management LLP purchased a new position in Iamgold in the 3rd quarter worth $873,000. Institutional investors own 56.06% of the company’s stock.
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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