Iamgold Corporation (IAG) Price Target Raised to $7.00 at Scotiabank
Iamgold Corporation (NYSE:IAG) (TSE:IMG) had its target price hoisted by research analysts at Scotiabank from $6.25 to $7.00 in a report issued on Friday. The firm presently has a “sector perform” rating on the mining company’s stock. Scotiabank’s target price suggests a potential upside of 5.11% from the stock’s previous close.
A number of other analysts have also recently commented on the company. Raymond James Financial, Inc. lifted their price objective on Iamgold Corporation from $6.00 to $7.25 and gave the stock a “market perform” rating in a research report on Thursday, September 7th. CIBC upgraded Iamgold Corporation from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $6.93 to $7.00 in a report on Wednesday, September 6th. Royal Bank Of Canada set a $7.00 price target on Iamgold Corporation and gave the company a “hold” rating in a report on Tuesday, August 29th. BMO Capital Markets upgraded Iamgold Corporation from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $6.00 to $7.50 in a report on Tuesday, August 22nd. Finally, BidaskClub upgraded Iamgold Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Iamgold Corporation presently has a consensus rating of “Hold” and a consensus price target of $6.82.
Iamgold Corporation (IAG) traded down 0.45% on Friday, reaching $6.63. 2,524,452 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $5.98 and a 200-day moving average price of $4.82. The company has a market capitalization of $3.08 billion, a PE ratio of 6.04 and a beta of -0.40. Iamgold Corporation has a 1-year low of $3.14 and a 1-year high of $7.25.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last posted 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. The firm had revenue of $274.50 million during the quarter, compared to analysts’ expectations of $267.07 million. Iamgold Corporation had a return on equity of 1.43% and a net margin of 46.75%. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 EPS. On average, equities research analysts anticipate that Iamgold Corporation will post $0.05 earnings per share for the current year.
TRADEMARK VIOLATION WARNING: “Iamgold Corporation (IAG) Price Target Raised to $7.00 at Scotiabank” was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States & international trademark & copyright law. The legal version of this report can be read at https://www.americanbankingnews.com/2017/09/15/iamgold-corporation-iag-price-target-raised-to-7-00-at-scotiabank.html.
Institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank lifted its stake in shares of Iamgold Corporation by 1.9% in the 1st quarter. Comerica Bank now owns 25,820 shares of the mining company’s stock valued at $104,000 after purchasing an additional 485 shares in the last quarter. World Asset Management Inc lifted its stake in shares of Iamgold Corporation by 3.9% in the 1st quarter. World Asset Management Inc now owns 27,537 shares of the mining company’s stock valued at $110,000 after purchasing an additional 1,040 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Iamgold Corporation by 102.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 21,299 shares of the mining company’s stock valued at $110,000 after purchasing an additional 10,773 shares in the last quarter. Sprott Inc. acquired a new position in shares of Iamgold Corporation in the 2nd quarter valued at about $114,000. Finally, Quantbot Technologies LP acquired a new position in shares of Iamgold Corporation in the 2nd quarter valued at about $131,000. Institutional investors own 56.35% of the company’s stock.
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.
Receive News & Ratings for Iamgold Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iamgold Corporation and related companies with MarketBeat.com's FREE daily email newsletter.