Shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) have received an average rating of “Hold” from the fourteen ratings firms that are covering the stock, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $5.75.

A number of equities analysts recently issued reports on IAG shares. Zacks Investment Research upgraded Iamgold Corporation from a “hold” rating to a “strong-buy” rating and set a $5.75 price objective for the company in a report on Wednesday, June 21st. TheStreet upgraded Iamgold Corporation from a “d+” rating to a “c” rating in a report on Monday, April 10th. BMO Capital Markets set a $5.00 price objective on Iamgold Corporation and gave the company a “hold” rating in a report on Tuesday, June 6th. Credit Suisse Group set a $6.00 price objective on Iamgold Corporation and gave the company a “hold” rating in a report on Wednesday, June 14th. Finally, ValuEngine upgraded Iamgold Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd.

Shares of Iamgold Corporation (IAG) traded down 0.20% during mid-day trading on Tuesday, reaching $5.04. The company had a trading volume of 3,847,813 shares. Iamgold Corporation has a 1-year low of $3.14 and a 1-year high of $5.87. The firm has a 50-day moving average price of $4.76 and a 200-day moving average price of $4.29. The stock’s market capitalization is $2.34 billion.

Iamgold Corporation (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Tuesday, May 9th. The mining company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. Iamgold Corporation had a positive return on equity of 1.63% and a negative net margin of 1.80%. The company had revenue of $260.50 million during the quarter, compared to analysts’ expectations of $264.54 million. During the same quarter in the previous year, the business earned ($0.02) EPS. Iamgold Corporation’s revenue was up 18.6% compared to the same quarter last year. Equities analysts expect that Iamgold Corporation will post $0.03 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Bank raised its position in shares of Iamgold Corporation 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 in the last quarter. 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 in the last quarter. AQR Capital Management LLC raised its position in shares of Iamgold Corporation 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 in the last quarter. ARP Americas LLC raised its position in shares of Iamgold Corporation by 122.2% in the first quarter. ARP Americas LLC now owns 46,000 shares of the mining company’s stock valued at $184,000 after buying an additional 25,300 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in shares of Iamgold Corporation during the first quarter valued at about $227,000. 57.68% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Iamgold Corporation (NYSE:IAG)

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