Iamgold Corporation (NYSE:IAG) (TSE:IMG) had its price target lowered by Royal Bank Of Canada from $6.50 to $6.00 in a research report issued on Friday. The firm currently has a “sector perform” rating on the mining company’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 10.70% from the company’s previous close.
Other research analysts also recently issued reports about the stock. Bank of America Corporation raised shares of Iamgold Corporation from an “underperform” rating to a “neutral” rating in a research report on Tuesday, May 23rd. National Bank Financial reissued an “outperform market weight” rating on shares of Iamgold Corporation in a research report on Sunday, May 14th. Credit Suisse Group reissued a “hold” rating and set a $5.00 target price on shares of Iamgold Corporation in a research report on Wednesday, June 7th. BMO Capital Markets set a $5.00 target price on shares of Iamgold Corporation and gave the company a “hold” rating in a research report on Tuesday, May 16th. Finally, Zacks Investment Research downgraded shares of Iamgold Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $5.75.
Shares of Iamgold Corporation (IAG) opened at 5.42 on Friday. The firm’s market capitalization is $2.52 billion. The firm’s 50-day moving average is $5.13 and its 200 day moving average is $4.48. Iamgold Corporation has a 12 month low of $3.14 and a 12 month high of $5.87.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Tuesday, May 9th. The mining company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. Iamgold Corporation had a negative net margin of 1.80% and a positive return on equity of 1.63%. The business had revenue of $260.50 million during the quarter, compared to the consensus estimate of $264.54 million. During the same period in the prior year, the firm posted ($0.02) EPS. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. On average, equities research analysts anticipate that Iamgold Corporation will post $0.03 EPS for the current year.
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Hedge funds have recently made changes to their positions in the stock. Comerica Bank boosted its stake 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 worth $112,000 after buying an additional 5,733 shares during the last quarter. AQR Capital Management LLC boosted its stake 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 worth $175,000 after buying an additional 33,282 shares during the last quarter. Norges Bank acquired a new stake in shares of Iamgold Corporation during the fourth quarter worth approximately $18,318,000. Creative Planning boosted its stake in shares of Iamgold Corporation by 11.5% in the first quarter. Creative Planning now owns 98,440 shares of the mining company’s stock worth $394,000 after buying an additional 10,168 shares during the last quarter. Finally, Bennicas & Associates Inc. boosted its stake in shares of Iamgold Corporation by 5.1% in the first quarter. Bennicas & Associates Inc. now owns 92,200 shares of the mining company’s stock worth $369,000 after buying an additional 4,500 shares during the last quarter. Institutional investors own 58.30% 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.
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