Iamgold Corporation (NYSE:IAG) (TSE:IMG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, October 17th.
According to Zacks, “IAMGOLD Corp is an international gold exploration and mining company based in Canada. It holds a 38% stake in the Sadiola Gold Mine and a 40% stake in the Yatela Gold Mine. Both are located in Mali, West Africa. Measured and indicated resources at Sadiola and Yatela are 5.5 million ounces of gold (including reserves of 5.2 million ounces). Inferred resources are 5.9 million ounces. IAMGOLD is actively exploring highly prospective ground in Africa and South America. “
IAG has been the topic of a number of other reports. BidaskClub raised shares of Iamgold Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. BMO Capital Markets reissued a “buy” rating and issued a $8.00 price objective on shares of Iamgold Corporation in a research report on Monday, October 2nd. ValuEngine raised shares of Iamgold Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Royal Bank Of Canada reduced their price objective on shares of Iamgold Corporation from $6.50 to $6.00 and set a “sector perform” rating on the stock in a research report on Friday, July 28th. Finally, Scotiabank increased their price objective on shares of Iamgold Corporation from $5.75 to $6.25 and gave the stock a “sector perform” rating in a research report on Tuesday, August 1st. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $7.23.
Iamgold Corporation (NYSE:IAG) traded up $0.14 on Tuesday, hitting $5.76. 1,868,538 shares of the company’s stock traded hands, compared to its average volume of 4,104,869. Iamgold Corporation has a twelve month low of $3.16 and a twelve month high of $7.25. The company has a market cap of $2,607.53, a P/E ratio of 70.13, a PEG ratio of 68.00 and a beta of -0.53. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.17 and a quick ratio of 4.19.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Wednesday, August 9th. The mining company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. Iamgold Corporation had a net margin of 46.75% and a return on equity of 1.43%. The business had revenue of $274.50 million during the quarter, compared to the consensus estimate of $267.07 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The business’s revenue was up 18.1% on a year-over-year basis. analysts forecast that Iamgold Corporation will post 0.03 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently made changes to their positions in IAG. Comerica Bank boosted 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 acquiring an additional 485 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in 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 valued at $110,000 after acquiring an additional 10,773 shares in the last quarter. Sprott Inc. acquired a new stake in Iamgold Corporation in the second quarter valued at approximately $114,000. Quantbot Technologies LP acquired a new stake in Iamgold Corporation in the second quarter valued at approximately $131,000. Finally, Acadian Asset Management LLC acquired a new stake in Iamgold Corporation in the second quarter valued at approximately $137,000. Institutional investors own 56.31% 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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