Wall Street Zen upgraded shares of Iamgold (NYSE:IAG – Free Report) (TSE:IMG) from a hold rating to a buy rating in a report issued on Saturday morning.
Several other equities analysts have also recently weighed in on the stock. Weiss Ratings cut shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. Jefferies Financial Group began coverage on shares of Iamgold in a research report on Thursday. They set a “buy” rating and a $24.00 target price for the company. Bank of America reduced their target price on shares of Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Scotiabank increased their price target on shares of Iamgold from $22.00 to $23.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 12th. Finally, Royal Bank Of Canada dropped their price target on shares of Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Iamgold presently has a consensus rating of “Moderate Buy” and an average price target of $20.00.
Check Out Our Latest Stock Analysis on IAG
Iamgold Stock Up 3.1%
Iamgold (NYSE:IAG – Get Free Report) (TSE:IMG) last announced its earnings results on Thursday, August 6th. The mining company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The business had revenue of $845.97 million for the quarter, compared to analysts’ expectations of $882.92 million. Iamgold had a return on equity of 28.97% and a net margin of 31.40%. As a group, sell-side analysts predict that Iamgold will post 1.92 EPS for the current year.
Institutional Trading of Iamgold
Several institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada lifted its stake in shares of Iamgold by 14.0% during the 1st quarter. Royal Bank of Canada now owns 691,322 shares of the mining company’s stock valued at $4,321,000 after buying an additional 84,939 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Iamgold by 6.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,420,263 shares of the mining company’s stock worth $15,127,000 after buying an additional 144,160 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Iamgold by 67.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,005,292 shares of the mining company’s stock worth $6,283,000 after buying an additional 404,645 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Iamgold by 64.1% during the second quarter. JPMorgan Chase & Co. now owns 228,257 shares of the mining company’s stock valued at $1,678,000 after acquiring an additional 89,197 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Iamgold by 16.9% during the second quarter. The Manufacturers Life Insurance Company now owns 532,137 shares of the mining company’s stock valued at $3,899,000 after acquiring an additional 77,016 shares during the period. 47.08% of the stock is currently owned by institutional investors.
Iamgold Company Profile
IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.
The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.
See Also
- Five stocks we like better than Iamgold
- Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters
- Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain
- Snowflake Could Be Headed for New Highs Despite Insider Selling
- MongoDB Is Surging—And the Next Catalyst Is Almost Here
Receive News & Ratings for Iamgold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iamgold and related companies with MarketBeat.com's FREE daily email newsletter.
