Zacks Investment Research upgraded shares of IAMGOLD (NYSE:IAG) (TSE:IMG) from a hold rating to a strong-buy rating in a report published on Wednesday. They currently have $6.75 price target on the mining company’s stock.
According to Zacks, “IAMGOLD Corp is an international gold exploration and mining company based in Canada. It holds a 38% stake in the Sadiola Gold Mine and a 40% stake in the Yatela Gold Mine. Both are located in Mali, West Africa. Measured and indicated resources at Sadiola and Yatela are 5.5 million ounces of gold (including reserves of 5.2 million ounces). Inferred resources are 5.9 million ounces. IAMGOLD is actively exploring highly prospective ground in Africa and South America. “
Several other research analysts have also commented on IAG. Royal Bank of Canada set a $8.00 price target on IAMGOLD and gave the stock a hold rating in a research report on Wednesday, October 18th. BMO Capital Markets set a $7.00 target price on IAMGOLD and gave the company a buy rating in a research note on Tuesday, December 19th. TheStreet downgraded IAMGOLD from a b rating to a c+ rating in a research note on Thursday, November 16th. Desjardins reiterated a buy rating on shares of IAMGOLD in a research note on Monday, December 11th. Finally, Scotiabank lifted their target price on IAMGOLD from $6.25 to $7.00 and gave the company a sector perform rating in a research note on Friday, September 15th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $7.01.
IAMGOLD (NYSE:IAG) traded up $0.01 on Wednesday, reaching $5.79. The company’s stock had a trading volume of 3,464,300 shares, compared to its average volume of 4,897,502. The firm has a market capitalization of $2,710.00, a price-to-earnings ratio of 5.31, a price-to-earnings-growth ratio of 22.65 and a beta of -0.57. IAMGOLD has a 52 week low of $3.36 and a 52 week high of $7.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.85 and a current ratio of 4.78.
IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Tuesday, November 7th. The mining company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.02 by $0.05. The company had revenue of $268.80 million for the quarter, compared to analyst estimates of $268.62 million. IAMGOLD had a return on equity of 1.81% and a net margin of 48.66%. The firm’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 earnings per share. sell-side analysts predict that IAMGOLD will post 0.09 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the business. Advisor Group Inc. grew its stake in shares of IAMGOLD by 2.3% in the 2nd quarter. Advisor Group Inc. now owns 33,950 shares of the mining company’s stock valued at $175,000 after purchasing an additional 750 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of IAMGOLD by 19.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,990 shares of the mining company’s stock valued at $221,000 after purchasing an additional 6,894 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of IAMGOLD 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 during the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of IAMGOLD by 2.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 607,826 shares of the mining company’s stock valued at $3,131,000 after purchasing an additional 14,600 shares during the last quarter. Finally, U S Global Investors Inc. boosted its stake in shares of IAMGOLD by 113.9% in the third quarter. U S Global Investors Inc. now owns 28,955 shares of the mining company’s stock valued at $177,000 after buying an additional 15,419 shares in the last quarter. Institutional investors own 56.04% of the company’s stock.
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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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