Iamgold Corporation (IAG) Given a $8.00 Price Target by Royal Bank Of Canada Analysts
Iamgold Corporation (NYSE:IAG) (TSE:IMG) has been given a $8.00 target price by research analysts at Royal Bank Of Canada in a report issued on Wednesday. The brokerage presently has a “hold” rating on the mining company’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 41.34% from the stock’s previous close.
IAG has been the subject of several other research reports. Scotiabank upped their target price on shares of Iamgold Corporation from $6.25 to $7.00 and gave the company a “sector perform” rating in a research note on Friday, September 15th. Zacks Investment Research raised shares of Iamgold Corporation from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a research report on Tuesday, August 1st. Raymond James Financial, Inc. increased their price objective on shares of Iamgold Corporation from $6.00 to $7.25 and gave the stock a “market perform” rating in a research report on Thursday, September 7th. Credit Suisse Group set a $6.00 price objective on shares of Iamgold Corporation and gave the stock a “hold” rating in a research report on Tuesday, July 18th. Finally, BidaskClub raised shares of Iamgold Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $7.10.
Shares of Iamgold Corporation (NYSE IAG) traded up 1.59% during midday trading on Wednesday, hitting $5.75. 4,940,922 shares of the company’s stock were exchanged. Iamgold Corporation has a 52 week low of $3.16 and a 52 week high of $7.25. The company has a 50-day moving average of $6.46 and a 200-day moving average of $5.21. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 5.24 and a beta of -0.48.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last issued its earnings results on Wednesday, August 9th. The mining company reported $0.01 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.01. Iamgold Corporation had a net margin of 46.75% and a return on equity of 1.43%. The firm had revenue of $274.50 million during the quarter, compared to the consensus estimate of $267.07 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The business’s quarterly revenue was up 18.1% on a year-over-year basis. Equities research analysts expect that Iamgold Corporation will post $0.06 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently made changes to their positions in the stock. Comerica Bank boosted its holdings in Iamgold Corporation by 1.9% during the first quarter. Comerica Bank now owns 25,820 shares of the mining company’s stock worth $104,000 after purchasing an additional 485 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Iamgold Corporation by 102.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 21,299 shares of the mining company’s stock worth $110,000 after purchasing an additional 10,773 shares during the last quarter. Sprott Inc. acquired a new position in Iamgold Corporation during the second quarter worth $114,000. Quantbot Technologies LP acquired a new position in Iamgold Corporation during the second quarter worth $131,000. Finally, Acadian Asset Management LLC acquired a new position in Iamgold Corporation during the second quarter worth $137,000. Institutional investors and hedge funds own 56.35% 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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