IAMGOLD Corp (NYSE:IAG) (TSE:IMG) was upgraded by analysts at Scotiabank from an “underperform” rating to a “sector perform” rating in a research note issued to investors on Wednesday, May 10th.
Several other research analysts have also recently issued reports on the company. Zacks Investment Research cut IAMGOLD Corp from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 17th. Credit Suisse Group AG cut IAMGOLD Corp from a “neutral” rating to an “underperform” rating in a research note on Friday, January 13th. TheStreet raised IAMGOLD Corp from a “d+” rating to a “c” rating in a report on Monday, April 10th. Finally, BMO Capital Markets initiated coverage on IAMGOLD Corp in a report on Monday, February 6th. They set a “market perform” rating and a $4.75 target price for the company. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $5.20.
Shares of IAMGOLD Corp (IAG) opened at 4.50 on Wednesday. IAMGOLD Corp has a 12-month low of $3.14 and a 12-month high of $5.87. The company’s market cap is $2.09 billion. The stock has a 50 day moving average of $4.20 and a 200 day moving average of $4.11.
IAMGOLD Corp (NYSE:IAG) last released its quarterly earnings results on Tuesday, May 9th. The mining company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. IAMGOLD Corp had a negative return on equity of 2.05% and a negative net margin of 63.53%. The company had revenue of $260.50 million during the quarter, compared to analysts’ expectations of $264.54 million. During the same quarter in the prior year, the business posted ($0.02) earnings per share. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. Analysts forecast that IAMGOLD Corp will post $0.03 earnings per share for the current year.
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Hedge funds have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd raised its stake in IAMGOLD Corp by 96.8% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 149,368 shares of the mining company’s stock worth $575,000 after buying an additional 73,461 shares during the period. Aegis Financial Corp raised its stake in IAMGOLD Corp by 36.7% in the fourth quarter. Aegis Financial Corp now owns 365,770 shares of the mining company’s stock worth $1,408,000 after buying an additional 98,275 shares during the period. Asset Management One Co. Ltd. acquired a new stake in IAMGOLD Corp during the fourth quarter worth about $8,144,000. Investec Asset Management LTD acquired a new stake in IAMGOLD Corp during the fourth quarter worth about $13,811,000. Finally, Van ECK Associates Corp raised its stake in IAMGOLD Corp by 9.0% in the fourth quarter. Van ECK Associates Corp now owns 82,393,216 shares of the mining company’s stock worth $317,214,000 after buying an additional 6,787,861 shares during the period. 54.65% of the stock is currently owned by hedge funds and other institutional investors.
About IAMGOLD Corp
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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