Iamgold Corporation (NYSE:IAG) (TSE:IMG) had its target price raised by Raymond James Financial, Inc. from $6.00 to $7.25 in a research report issued to clients and investors on Thursday. The brokerage presently has a “market perform” rating on the mining company’s stock. Raymond James Financial, Inc.’s target price would suggest a potential upside of 4.92% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. TheStreet raised Iamgold Corporation from a “c-” rating to a “b” rating in a research report on Thursday, August 17th. Bank of America Corporation raised Iamgold Corporation from an “underperform” rating to a “neutral” rating in a research report on Tuesday, May 23rd. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Iamgold Corporation in a research report on Wednesday, July 12th. CIBC raised Iamgold Corporation from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $6.93 to $7.00 in a research report on Wednesday. Finally, National Bank Financial reaffirmed an “outperform market weight” rating on shares of Iamgold Corporation in a research report on Sunday, May 14th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Iamgold Corporation presently has an average rating of “Hold” and a consensus price target of $6.71.

Shares of Iamgold Corporation (IAG) traded up 2.967% on Thursday, reaching $7.115. 4,438,831 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $5.68 and its 200-day moving average price is $4.71. The company has a market capitalization of $3.31 billion, a P/E ratio of 6.486 and a beta of -0.40. Iamgold Corporation has a 12 month low of $3.14 and a 12 month high of $7.17.

Iamgold Corporation (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Wednesday, August 9th. The mining company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. Iamgold Corporation had a return on equity of 1.43% and a net margin of 46.75%. The firm had revenue of $274.50 million for the quarter, compared to the consensus estimate of $267.07 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis. On average, equities analysts anticipate that Iamgold Corporation will post $0.04 EPS for the current year.

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Institutional investors and hedge funds have recently bought and sold shares of the company. World Asset Management Inc boosted its position in shares of Iamgold Corporation by 10.7% in the second quarter. World Asset Management Inc now owns 24,961 shares of the mining company’s stock valued at $103,000 after acquiring an additional 2,406 shares during the period. Comerica Bank boosted its position in shares of Iamgold Corporation by 1.9% in the first quarter. Comerica Bank now owns 25,820 shares of the mining company’s stock valued at $104,000 after acquiring an additional 485 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of 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 valued at $110,000 after acquiring an additional 10,773 shares during the period. ING Groep NV bought a new stake in shares of Iamgold Corporation in the second quarter valued at approximately $114,000. Finally, Sprott Inc. bought a new stake in shares of Iamgold Corporation in the second quarter valued at approximately $114,000. 56.35% of the stock is owned by 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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