StockNews.com upgraded shares of IAMGOLD (NYSE:IAG – Free Report) (TSE:IMG) from a sell rating to a hold rating in a report issued on Friday.
IAG has been the topic of several other research reports. CIBC raised their price target on shares of IAMGOLD from $3.00 to $3.10 and gave the company a neutral rating in a report on Wednesday, February 7th. BMO Capital Markets increased their price objective on shares of IAMGOLD from $4.00 to $4.25 and gave the company an outperform rating in a research report on Friday, April 5th. National Bank Financial reaffirmed a sector perform spec overwgt rating on shares of IAMGOLD in a research report on Monday, April 8th. Finally, Scotiabank increased their price objective on shares of IAMGOLD from $3.25 to $3.75 and gave the company a sector perform rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $3.55.
Read Our Latest Stock Analysis on IAG
IAMGOLD Trading Up 1.9 %
IAMGOLD (NYSE:IAG – Get Free Report) (TSE:IMG) last posted its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. The firm had revenue of $297.60 million for the quarter. On average, sell-side analysts predict that IAMGOLD will post 0.14 EPS for the current year.
Institutional Trading of IAMGOLD
A number of hedge funds have recently made changes to their positions in the stock. CIBC Asset Management Inc grew its position in shares of IAMGOLD by 0.9% during the third quarter. CIBC Asset Management Inc now owns 435,298 shares of the mining company’s stock worth $942,000 after buying an additional 4,000 shares in the last quarter. Barclays PLC grew its position in shares of IAMGOLD by 1.9% during the third quarter. Barclays PLC now owns 293,363 shares of the mining company’s stock worth $631,000 after buying an additional 5,470 shares in the last quarter. Public Sector Pension Investment Board grew its position in shares of IAMGOLD by 0.9% during the third quarter. Public Sector Pension Investment Board now owns 987,468 shares of the mining company’s stock worth $2,140,000 after buying an additional 8,485 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in IAMGOLD in the fourth quarter worth $26,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in IAMGOLD in the fourth quarter worth $29,000. Institutional investors and hedge funds own 47.08% of the company’s stock.
IAMGOLD Company Profile
IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.
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