ValuEngine Upgrades Iamgold Corporation (IAG) to Hold
Iamgold Corporation (NYSE:IAG) (TSE:IMG) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Thursday.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Iamgold Corporation from a “hold” rating to a “buy” rating and set a $5.75 price objective on the stock in a report on Monday, July 17th. BidaskClub upgraded Iamgold Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 9th. BMO Capital Markets set a $5.00 price objective on Iamgold Corporation and gave the stock a “hold” rating in a report on Tuesday, May 16th. Royal Bank Of Canada set a $6.00 price objective on Iamgold Corporation and gave the stock a “hold” rating in a report on Thursday, June 8th. Finally, Credit Suisse Group restated a “hold” rating and set a $5.00 price objective on shares of Iamgold Corporation in a report on Wednesday, June 7th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $5.88.
Shares of Iamgold Corporation (NYSE IAG) opened at 5.64 on Thursday. The stock has a 50 day moving average price of $5.22 and a 200-day moving average price of $4.56. Iamgold Corporation has a 52 week low of $3.14 and a 52 week high of $5.71. The firm’s market capitalization is $2.62 billion.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Wednesday, August 9th. The mining company reported $0.01 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $267.07 million. During the same quarter last year, the firm earned $0.01 earnings per share. The business’s revenue was up 18.1% on a year-over-year basis. On average, analysts anticipate that Iamgold Corporation will post $0.05 EPS for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Nova Scotia boosted its position in shares of Iamgold Corporation by 61.7% in the second quarter. Bank of Nova Scotia now owns 1,396,105 shares of the mining company’s stock worth $7,203,000 after buying an additional 532,731 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of 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 worth $110,000 after buying an additional 10,773 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new position in shares of Iamgold Corporation during the second quarter worth $4,103,000. Royal Bank of Canada boosted its position in shares of Iamgold Corporation by 496.5% in the second quarter. Royal Bank of Canada now owns 4,484,298 shares of the mining company’s stock worth $23,138,000 after buying an additional 3,732,543 shares during the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Iamgold Corporation during the second quarter worth $5,434,000. Hedge funds and other institutional investors own 57.32% of the company’s stock.
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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