Iamgold Corporation (IAG) Rating Lowered to C+ at TheStreet
A number of other research firms have also issued reports on IAG. CIBC raised Iamgold Corporation from a sector perform rating to a sector outperform rating and lifted their target price for the stock from $6.93 to $7.00 in a report on Wednesday, September 6th. Raymond James Financial, Inc. lifted their target price on Iamgold Corporation from $6.00 to $7.25 and gave the stock a market perform rating in a report on Thursday, September 7th. Canaccord Genuity lowered Iamgold Corporation from a buy rating to a hold rating and set a $8.07 target price on the stock. in a report on Friday, September 29th. Scotiabank lifted their target price on Iamgold Corporation from $6.25 to $7.00 and gave the stock a sector perform rating in a report on Friday, September 15th. Finally, Royal Bank Of Canada set a $7.00 target price on Iamgold Corporation and gave the stock a hold rating in a report on Tuesday, August 29th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $7.10.
Shares of Iamgold Corporation (NYSE:IAG) opened at $5.75 on Thursday. Iamgold Corporation has a one year low of $3.16 and a one year high of $7.25. The company has a current ratio of 4.78, a quick ratio of 3.85 and a debt-to-equity ratio of 0.14. The firm has a market cap of $2,673.18, a PE ratio of 57.50, a P/E/G ratio of 22.55 and a beta of -0.53.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Tuesday, November 7th. The mining company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $268.80 million for the quarter, compared to analysts’ expectations of $268.62 million. Iamgold Corporation had a net margin of 48.66% and a return on equity of 1.81%. The company’s revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 earnings per share. research analysts predict that Iamgold Corporation will post 0.09 EPS for the current year.
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A number of institutional investors and hedge funds have recently modified their holdings of IAG. Tocqueville Asset Management L.P. increased its stake in Iamgold Corporation by 183.9% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 6,850,300 shares of the mining company’s stock worth $35,348,000 after purchasing an additional 4,437,200 shares in the last quarter. Royal Bank of Canada increased its stake in Iamgold Corporation by 496.5% in the 2nd quarter. Royal Bank of Canada now owns 4,484,298 shares of the mining company’s stock worth $23,138,000 after purchasing an additional 3,732,543 shares in the last quarter. Heartland Advisors Inc. increased its stake in Iamgold Corporation by 372.1% in the 3rd quarter. Heartland Advisors Inc. now owns 3,634,511 shares of the mining company’s stock worth $22,222,000 after purchasing an additional 2,864,661 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Iamgold Corporation by 560.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,688,430 shares of the mining company’s stock worth $13,873,000 after purchasing an additional 2,281,226 shares in the last quarter. Finally, Morgan Stanley increased its stake in Iamgold Corporation by 204.3% in the 1st quarter. Morgan Stanley now owns 2,237,001 shares of the mining company’s stock worth $8,949,000 after purchasing an additional 1,501,873 shares in the last quarter. 53.81% of the stock is currently owned by hedge funds and other institutional investors.
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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