Shares of Iamgold Corp. (NYSE:IAG) have received a consensus recommendation of “Hold” from the sixteen ratings firms that are currently covering the stock. Three research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $3.98.

IAG has been the subject of several research analyst reports. Credit Suisse Group AG upgraded Iamgold Corp. from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $3.00 to $5.25 in a research report on Thursday, June 30th. Paradigm Capital upgraded Iamgold Corp. from a “hold” rating to a “buy” rating in a research report on Monday, July 18th. Royal Bank Of Canada upgraded Iamgold Corp. from an “underperform” rating to a “sector perform” rating and lifted their target price for the stock from $5.50 to $6.50 in a research report on Monday, August 8th. Scotiabank upgraded Iamgold Corp. from an “underperform” rating to a “sector perform” rating in a research report on Wednesday, July 13th. Finally, CIBC upgraded Iamgold Corp. from a “sector underperform” rating to a “sector perform” rating in a research report on Monday, June 27th.

Several large investors have recently modified their holdings of the company. Donald Smith & CO. Inc. raised its stake in shares of Iamgold Corp. by 892.7% in the second quarter. Donald Smith & CO. Inc. now owns 8,348,447 shares of the mining company’s stock worth $34,563,000 after buying an additional 7,507,447 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Iamgold Corp. by 12.5% in the second quarter. Van ECK Associates Corp now owns 55,808,621 shares of the mining company’s stock worth $231,048,000 after buying an additional 6,186,956 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Iamgold Corp. by 80.9% in the first quarter. Renaissance Technologies LLC now owns 12,614,296 shares of the mining company’s stock worth $27,877,000 after buying an additional 5,642,996 shares during the last quarter. Waddell & Reed Financial Inc. acquired a new stake in shares of Iamgold Corp. during the second quarter worth $9,667,000. Finally, Commerzbank Aktiengesellschaft FI raised its stake in shares of Iamgold Corp. by 514.8% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,758,496 shares of the mining company’s stock worth $11,420,000 after buying an additional 2,309,796 shares during the last quarter. Institutional investors and hedge funds own 53.71% of the company’s stock.

Shares of Iamgold Corp. (NYSE:IAG) opened at 3.99 on Wednesday. The stock’s market capitalization is $1.62 billion. Iamgold Corp. has a 12 month low of $1.15 and a 12 month high of $5.87. The company’s 50-day moving average is $4.64 and its 200 day moving average is $3.67.

Iamgold Corp. (NYSE:IAG) last released its earnings results on Wednesday, August 3rd. The mining company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.03. Iamgold Corp. had a negative return on equity of 5.16% and a negative net margin of 80.04%. The business earned $232.50 million during the quarter, compared to the consensus estimate of $245.68 million. During the same period last year, the company earned ($0.08) earnings per share. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities research analysts predict that Iamgold Corp. will post $0.04 earnings per share for the current year.

About Iamgold Corp.

IAMGOLD Corporation (IAMGOLD) is engaged in the exploration, development and production of mineral resource properties across the world. Through its holdings, IAMGOLD has interests in various operations and exploration properties, as well as various royalty interests on mineral resource properties. All gold produced by IAMGOLD is in the form of dore bars, which is sold to gold refineries in North America and Europe.

5 Day Chart for NYSE:IAG

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