Iamgold Corporation (IAG) Upgraded at BidaskClub
Iamgold Corporation (NYSE:IAG) (TSE:IMG) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.
IAG has been the topic of several other research reports. Zacks Investment Research upgraded shares of Iamgold Corporation from a “hold” rating to a “strong-buy” rating and set a $5.75 price objective on the stock in a research note on Wednesday, June 21st. Credit Suisse Group set a $6.00 target price on shares of Iamgold Corporation and gave the stock a “hold” rating in a research note on Wednesday, June 14th. BMO Capital Markets set a $5.00 target price on shares of Iamgold Corporation and gave the stock a “hold” rating in a research note on Tuesday, June 6th. Scotiabank raised their target price on shares of Iamgold Corporation from $5.75 to $6.25 and gave the stock a “sector perform” rating in a research note on Tuesday, August 1st. Finally, ValuEngine upgraded shares of Iamgold Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 23rd. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Iamgold Corporation presently has a consensus rating of “Hold” and an average price target of $5.88.
Iamgold Corporation (IAG) traded up 0.53% during trading on Friday, hitting $5.70. 7,293,758 shares of the stock traded hands. The firm has a 50-day moving average price of $5.25 and a 200 day moving average price of $4.58. Iamgold Corporation has a 52-week low of $3.14 and a 52-week high of $5.94. The company has a market cap of $2.65 billion, a P/E ratio of 5.20 and a beta of -0.31.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Wednesday, August 9th. The mining company reported $0.01 earnings per share for the quarter, hitting 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 for the quarter, compared to analysts’ expectations of $267.07 million. During the same quarter in the prior year, the business earned $0.01 EPS. The business’s quarterly revenue was up 18.1% on a year-over-year basis. On average, equities analysts expect that Iamgold Corporation will post $0.03 EPS for the current year.
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A number of large investors have recently made changes to their positions in IAG. Bank of Nova Scotia raised its position in Iamgold Corporation by 61.7% in the second quarter. Bank of Nova Scotia now owns 1,396,105 shares of the mining company’s stock worth $7,203,000 after buying an additional 532,731 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Iamgold Corporation by 102.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 21,299 shares of the mining company’s stock worth $110,000 after buying an additional 10,773 shares during the period. BlueCrest Capital Management Ltd acquired a new position in Iamgold Corporation during the second quarter worth $4,103,000. Royal Bank of Canada raised its position in Iamgold Corporation by 496.5% in the second quarter. Royal Bank of Canada now owns 4,484,298 shares of the mining company’s stock worth $23,138,000 after buying an additional 3,732,543 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new position in Iamgold Corporation during the second quarter worth $5,434,000. 57.32% of the stock is owned by institutional investors and hedge funds.
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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