Royal Bank Of Canada Analysts Give Iamgold Corporation (IAG) a $7.00 Price Target
Iamgold Corporation (NYSE:IAG) (TSE:IMG) received a $7.00 price objective from research analysts at Royal Bank Of Canada in a report issued on Tuesday. The firm currently has a “hold” rating on the mining company’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 10.58% from the company’s current price.
A number of other equities analysts have also weighed in on the company. National Bank Financial restated an “outperform market weight” rating on shares of Iamgold Corporation in a research note on Sunday, May 14th. BidaskClub upgraded Iamgold Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 19th. TheStreet upgraded Iamgold Corporation from a “c-” rating to a “b” rating in a research note on Thursday, August 17th. Zacks Investment Research lowered Iamgold Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Scotiabank upped their target price on Iamgold Corporation from $5.75 to $6.25 and gave the stock a “sector perform” rating in a research note on Tuesday, August 1st. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Iamgold Corporation has an average rating of “Hold” and an average price target of $6.46.
Shares of Iamgold Corporation (IAG) opened at 6.33 on Tuesday. The firm has a market cap of $2.94 billion, a P/E ratio of 5.77 and a beta of -0.31. The stock has a 50 day moving average of $5.36 and a 200 day moving average of $4.62. Iamgold Corporation has a 52 week low of $3.14 and a 52 week high of $6.35.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Wednesday, August 9th. The mining company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The business had revenue of $274.50 million for the quarter, compared to analysts’ expectations of $267.07 million. Iamgold Corporation had a return on equity of 1.43% and a net margin of 46.75%. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 EPS. Analysts anticipate that Iamgold Corporation will post $0.03 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in IAG. Morgan Stanley raised its position in shares of Iamgold Corporation by 204.3% in the first quarter. Morgan Stanley now owns 2,237,001 shares of the mining company’s stock valued at $8,949,000 after buying an additional 1,501,873 shares during the period. FMR LLC purchased a new position in shares of Iamgold Corporation during the first quarter valued at approximately $4,943,000. Vanguard Group Inc. raised its position in shares of Iamgold Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 8,653,597 shares of the mining company’s stock valued at $34,615,000 after buying an additional 326,515 shares during the period. World Asset Management Inc raised its position in shares of 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. Finally, SG Americas Securities LLC raised its position in shares of Iamgold Corporation by 11.7% in the second quarter. SG Americas Securities LLC now owns 452,121 shares of the mining company’s stock valued at $2,333,000 after buying an additional 47,485 shares during the period. Hedge funds and other institutional investors own 56.35% of the company’s stock.
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.
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