Iamgold Corporation (IAG) Given a $7.00 Price Target at Royal Bank Of Canada
Royal Bank Of Canada set a $7.00 price target on Iamgold Corporation (NYSE:IAG) (TSE:IMG) in a research report report published on Tuesday. The firm currently has a hold rating on the mining company’s stock.
Several other brokerages have also issued reports on IAG. Zacks Investment Research lowered shares of Iamgold Corporation from a buy rating to a hold rating in a report on Tuesday, August 8th. ValuEngine raised shares of Iamgold Corporation from a sell rating to a hold rating in a report on Tuesday, May 23rd. Credit Suisse Group raised shares of Iamgold Corporation from an underperform rating to a neutral rating and lifted their price target for the company from $4.50 to $5.00 in a report on Wednesday, May 10th. BidaskClub raised shares of Iamgold Corporation from a hold rating to a buy rating in a report on Saturday, August 19th. Finally, Scotiabank raised shares of Iamgold Corporation from an underperform rating to a sector perform rating in a report on Wednesday, May 10th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Iamgold Corporation currently has an average rating of Hold and an average price target of $6.46.
Iamgold Corporation (NYSE IAG) opened at 6.71 on Tuesday. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 6.12 and a beta of -0.41. Iamgold Corporation has a 12 month low of $3.14 and a 12 month high of $6.73. The stock’s 50 day moving average is $5.57 and its 200-day moving average is $4.68.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Wednesday, August 9th. The mining company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $274.50 million for the quarter, compared to analyst estimates of $267.07 million. Iamgold Corporation had a net margin of 46.75% and a return on equity of 1.43%. The firm’s revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 EPS. Equities analysts anticipate that Iamgold Corporation will post $0.03 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of the company. Comerica Bank increased its stake in Iamgold Corporation by 1.9% in the first quarter. Comerica Bank now owns 25,820 shares of the mining company’s stock valued at $104,000 after buying an additional 485 shares in the last quarter. World Asset Management Inc increased its position in shares of Iamgold Corporation by 3.9% in the first quarter. World Asset Management Inc now owns 27,537 shares of the mining company’s stock worth $110,000 after buying an additional 1,040 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Iamgold Corporation by 102.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 21,299 shares of the mining company’s stock worth $110,000 after buying an additional 10,773 shares during the period. Sprott Inc. purchased a new position in shares of Iamgold Corporation during the second quarter worth about $114,000. Finally, Quantbot Technologies LP purchased a new position in shares of Iamgold Corporation during the second quarter worth about $131,000. Institutional investors and hedge funds own 56.35% of the company’s stock.
Iamgold Corporation Company Profile
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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