Raymond James reaffirmed their market perform rating on shares of Iamgold (NYSE:IAG) (TSE:IMG) in a report issued on Friday, BayStreet.CA reports. The brokerage currently has a $5.00 price target on the mining company’s stock. Raymond James also issued estimates for Iamgold’s Q3 2020 earnings at $0.06 EPS and FY2020 earnings at $0.21 EPS.
IAG has been the subject of a number of other research reports. Credit Suisse Group downgraded shares of Iamgold from an outperform rating to a neutral rating in a report on Thursday, August 8th. ValuEngine downgraded shares of Iamgold from a hold rating to a sell rating in a report on Thursday, October 31st. Sanford C. Bernstein reaffirmed a neutral rating on shares of Iamgold in a report on Wednesday, October 30th. CIBC reaffirmed an average rating on shares of Iamgold in a report on Sunday, August 4th. Finally, Liberum Capital reaffirmed a buy rating on shares of Iamgold in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $4.26.
Shares of Iamgold stock traded down $0.05 on Friday, reaching $3.35. 6,500,647 shares of the stock were exchanged, compared to its average volume of 5,421,397. The firm’s 50 day moving average is $3.61 and its 200-day moving average is $3.31. Iamgold has a one year low of $2.28 and a one year high of $4.16. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.05 and a current ratio of 4.14. The firm has a market cap of $1.74 billion, a PE ratio of 55.83, a P/E/G ratio of 49.60 and a beta of -0.02.
Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Wednesday, August 7th. The mining company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.02). Iamgold had a negative return on equity of 1.45% and a negative net margin of 9.84%. The firm had revenue of $246.50 million for the quarter, compared to the consensus estimate of $272.94 million. During the same period last year, the company posted $0.03 EPS. The business’s revenue was down 11.1% on a year-over-year basis. On average, equities research analysts expect that Iamgold will post 0.03 EPS for the current fiscal year.
In related news, insider Harmer Peter sold 100,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $7.93, for a total value of $792,500.00.
Large investors have recently modified their holdings of the stock. Brookstone Capital Management bought a new position in Iamgold in the 3rd quarter valued at approximately $38,000. Cetera Advisors LLC bought a new position in Iamgold in the 2nd quarter valued at approximately $49,000. Ropes Wealth Advisors LLC bought a new position in shares of Iamgold during the third quarter valued at $72,000. Cerebellum GP LLC bought a new position in shares of Iamgold during the third quarter valued at $77,000. Finally, Clean Yield Group raised its stake in shares of Iamgold by 168.8% during the second quarter. Clean Yield Group now owns 43,000 shares of the mining company’s stock valued at $145,000 after acquiring an additional 27,000 shares during the last quarter. 57.30% of the stock is owned by institutional investors and hedge funds.
IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine in Burkina Faso, West Africa; the Westwood mine in Quebec, Canada; and the Sadiola mine located in Mali, West Africa.
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