IAMGOLD (NYSE:IAG – Get Free Report) (TSE:IMG) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Saturday.
A number of other research firms also recently commented on IAG. Scotiabank increased their target price on IAMGOLD from $4.50 to $4.75 and gave the stock a “sector perform” rating in a report on Monday, August 12th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of IAMGOLD in a report on Thursday, June 6th. Finally, CIBC boosted their target price on shares of IAMGOLD from $4.90 to $5.40 and gave the company a “neutral” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.18.
Get Our Latest Stock Report on IAMGOLD
IAMGOLD Trading Up 3.7 %
IAMGOLD (NYSE:IAG – Get Free Report) (TSE:IMG) last issued its earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. IAMGOLD had a net margin of 12.48% and a return on equity of 3.17%. The business had revenue of $385.30 million for the quarter. During the same quarter last year, the company posted ($0.01) EPS. As a group, research analysts expect that IAMGOLD will post 0.33 EPS for the current fiscal year.
Institutional Investors Weigh In On IAMGOLD
Several large investors have recently added to or reduced their stakes in the stock. TIAA Trust National Association acquired a new stake in shares of IAMGOLD in the 2nd quarter worth about $38,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of IAMGOLD during the fourth quarter valued at approximately $26,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of IAMGOLD during the fourth quarter valued at approximately $29,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of IAMGOLD during the fourth quarter worth approximately $33,000. Finally, WINTON GROUP Ltd bought a new position in IAMGOLD in the 2nd quarter worth approximately $52,000. 47.08% of the stock is owned by institutional investors and hedge funds.
About IAMGOLD
IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.
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