Iamgold Corporation (IAG) Receives $5.75 Average Price Target from Brokerages
Shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) have been given an average recommendation of “Hold” by the thirteen research firms that are currently covering the company, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $5.85.
Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Iamgold Corporation from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research report on Tuesday, August 1st. Scotiabank increased their target price on shares of Iamgold Corporation from $5.75 to $6.25 and gave the stock a “sector perform” rating in a research report on Tuesday, August 1st. Credit Suisse Group set a $6.00 target price on shares of Iamgold Corporation and gave the stock a “hold” rating in a research report on Tuesday, July 18th. Royal Bank Of Canada cut their target price on shares of Iamgold Corporation from $6.50 to $6.00 and set a “sector perform” rating for the company in a research report on Friday, July 28th. Finally, BMO Capital Markets set a $5.00 price target on shares of Iamgold Corporation and gave the stock a “hold” rating in a report on Tuesday, June 6th.
Hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank boosted 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 buying an additional 485 shares during the period. World Asset Management Inc boosted 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 buying an additional 1,040 shares during the period. Sprott Inc. bought a new stake in Iamgold Corporation during the second quarter valued at $114,000. Acadian Asset Management LLC bought a new stake in Iamgold Corporation during the second quarter valued at $137,000. Finally, AQR Capital Management LLC boosted its stake in Iamgold Corporation by 280.7% in the fourth quarter. AQR Capital Management LLC now owns 45,137 shares of the mining company’s stock valued at $175,000 after buying an additional 33,282 shares during the period. Institutional investors and hedge funds own 57.95% of the company’s stock.
Shares of Iamgold Corporation (NYSE IAG) opened at 5.28 on Tuesday. The company’s market cap is $2.45 billion. The stock’s 50 day moving average price is $5.15 and its 200-day moving average price is $4.49. Iamgold Corporation has a 12-month low of $3.14 and a 12-month high of $5.87.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last posted its earnings results on Tuesday, May 9th. The mining company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Iamgold Corporation had a negative net margin of 1.80% and a positive return on equity of 1.63%. The firm had revenue of $260.50 million during the quarter, compared to analyst estimates of $264.54 million. During the same quarter in the prior year, the business posted ($0.02) EPS. The business’s revenue was up 18.6% compared to the same quarter last year. On average, equities research analysts forecast that Iamgold Corporation will post $0.04 earnings per share for the current year.
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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