IAMGOLD Corp (IMG) Price Target Raised to C$9.00 at TD Securities

Xavier Trudeau
Août 13, 2017

Royal Bank Of Canada restated their hold rating on shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) in a research report report published on Wednesday, July 12th.

According to Zacks, "IAMGOLD Corp is an worldwide gold exploration and mining company based in Canada". IAMGOLD is actively exploring highly prospective ground in Africa and South America.

Shares of IAMGOLD Corp (TSE:IMG) (NYSE:IAG) have been given a consensus recommendation of "Hold" by the seven analysts that are now covering the stock, Marketbeat reports. Canaccord Genuity raised their price target on shares of IAMGOLD Corp from C$9.25 to C$9.50 in a research report on Thursday, July 27th. National Bank Financial increased their target price on shares of IAMGOLD Corp from C$7.75 to C$8.50 and gave the company an outperform rating in a research report on Thursday, July 27th. ValuEngine upgraded shares of Iamgold Corporation from a sell rating to a hold rating in a research report on Tuesday, May 23rd. Finally, Scotiabank upgraded shares of Iamgold Corporation from an underperform rating to a sector perform rating in a report on Wednesday, May 10th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has "Hold" rating by RBC Capital Markets on Monday, June 5. Credit Suisse downgraded IAMGOLD Corp (USA) (NYSE:IAG) on Friday, January 13 to "Underperform" rating.

Iamgold Corporation has a one year low of $3.14 and a one year high of $5.71. The stock has a market cap of $2.53 billion, a PE ratio of 4.97 and a beta of -0.31. The stock last traded at $5.43 which is slightly above the 50 day moving average of $5.19 and which is quite a bit above the 200 day moving average of $4.53.

Iamgold Corporation (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Wednesday, August 9th. Next quarter's EPS is expected be $0.01 and the next full year EPS is anticipated to be $0.06. Iamgold Corporation had a negative net margin of 1.80% and a positive return on equity of 1.63%. During the same quarter past year, the business earned $0.01 earnings per share. The business's revenue for the quarter was up 18.6% compared to the same quarter a year ago. The firm presently has a "buy" rating on the mining company's stock.

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A number of institutional investors have recently added to or reduced their stakes in IAG. The value of the investment in Iamgold Corporation Ordinary Sh increased from $118,000 to $377,000 a change of 219.5% quarter over quarter. Ruffer LLP now owns 455,826 shares of the basic materials company's stock valued at $1,347,000 after buying an additional 310,405 shares during the last quarter. Spark Investment Management LLC boosted its stake in Pershing Gold Corporation by 100.0% in the first quarter. Advisor Group Inc. now owns 33,950 shares of the mining company's stock worth $175,000 after buying an additional 750 shares during the last quarter. Sprott Inc. acquired a new position in Iamgold Corporation during the second quarter worth approximately $114,000. FMR LLC increased its position in shares of Iamgold Corporation by 12.9% in the second quarter. Vanguard Group Inc. now owns 614,718 shares of the basic materials company's stock valued at $1,715,000 after buying an additional 29,018 shares during the last quarter. Finally, Ruffer LLP boosted its stake in Pershing Gold Corporation by 213.5% in the first quarter. Heartland Advisors Inc. now owns 3,516,250 shares of the mining company's stock valued at $14,066,000 after buying an additional 216,300 shares during the period.

IAMGOLD Corporation 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. The Company operates its business directly and also through its subsidiary, Gold Acquisition Corp.

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