IAMGOLD Corp (IAG) Stock Rating Upgraded by ValuEngine
IAMGOLD Corp (NYSE:IAG) (TSE:IMG) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Tuesday.
A number of other analysts also recently commented on the stock. Bank of America Corp upgraded shares of IAMGOLD Corp from an “underperform” rating to a “neutral” rating in a report on Tuesday. BMO Capital Markets set a $5.00 price objective on shares of IAMGOLD Corp and gave the company a “hold” rating in a report on Tuesday, May 16th. National Bank Financial reiterated an “outperform market weight” rating on shares of IAMGOLD Corp in a report on Sunday, May 14th. Scotiabank upgraded shares of IAMGOLD Corp from an “underperform” rating to a “sector perform” rating in a report on Wednesday, May 10th. Finally, Credit Suisse Group AG upgraded shares of IAMGOLD Corp from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $4.50 to $5.00 in a report on Wednesday, May 10th. 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 an average rating of “Hold” and an average target price of $5.20.
Shares of IAMGOLD Corp (NYSE:IAG) traded down 4.24% on Tuesday, hitting $4.29. The company’s stock had a trading volume of 9,399,313 shares. The stock has a 50-day moving average price of $4.18 and a 200 day moving average price of $4.09. The firm’s market cap is $1.99 billion. IAMGOLD Corp has a one year low of $3.14 and a one year high of $5.87.
IAMGOLD Corp (NYSE:IAG) last released its quarterly earnings data on Tuesday, May 9th. The mining company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. The company had revenue of $260.50 million during the quarter, compared to the consensus estimate of $264.54 million. IAMGOLD Corp had a negative net margin of 63.53% and a negative return on equity of 2.05%. IAMGOLD Corp’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.02) EPS.
Several hedge funds have recently bought and sold shares of IAG. Comerica Bank boosted its stake in IAMGOLD Corp by 29.2% in the fourth quarter. Comerica Bank now owns 25,335 shares of the mining company’s stock valued at $112,000 after buying an additional 5,733 shares during the period. World Asset Management Inc boosted its stake in IAMGOLD Corp 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. Guardian Capital Advisors LP boosted its stake in IAMGOLD Corp by 48.1% in the fourth quarter. Guardian Capital Advisors LP now owns 34,475 shares of the mining company’s stock valued at $214,000 after buying an additional 11,200 shares during the period. Bayesian Capital Management LP purchased a new stake in IAMGOLD Corp during the fourth quarter valued at $155,000. Finally, AQR Capital Management LLC boosted its stake in IAMGOLD Corp by 280.7% in the fourth quarter. AQR Capital Management LLC now owns 45,137 shares of the mining company’s stock valued at $175,000 after buying an additional 33,282 shares during the period. 54.65% of the stock is owned by institutional investors and hedge funds.
About IAMGOLD Corp
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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