IAMGOLD Corp (TSE:IMG) PT Raised to C$9.00

Cornelia Mascio
Agosto 13, 2017

IMG has been the subject of a number of other research reports. Canaccord Genuity lifted their price target on shares of IAMGOLD Corp from C$9.25 to C$9.50 in a report on Thursday, July 27th. Zacks Investment Research raised shares of Iamgold Corporation from a hold rating to a strong-buy rating and set a $5.75 price target on the stock in a research note on Wednesday, June 21st. Finally, Royal Bank Of Canada raised their price objective on shares of IAMGOLD Corp to C$8.00 and gave the stock a sector perform rating in a research report on Thursday, June 8th. BMO Capital Markets set a $5.00 price target on shares of Iamgold Corporation and gave the company a hold rating in a research report on Tuesday, June 6th. Finally, Scotiabank raised shares of Iamgold Corporation from an underperform rating to a sector perform rating in a report on Wednesday, May 10th.

Among 14 analysts covering Iamgold Corp (NYSE:IAG), 4 have Buy rating, 3 Sell and 7 Hold. The company presently has an average rating of Hold and a consensus target price of $5.88. Credit Suisse downgraded IAMGOLD Corp (USA) (NYSE:IAG) on Friday, January 13 to "Underperform" rating.

Van Eck Associates Corp sold 29,452,814 shares during the last quarter decreasing its stake in Iamgold Corporation Ordinary Sh (IAG) by 34.5%. The company has a market capitalization of $3.22 billion and a price-to-earnings ratio of 6.31. The firm has a 50 day moving average of $6.63 and a 200-day moving average of $5.98. The mining company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.01. 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 for the quarter was up 18.6% compared to the same quarter a year ago. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company.

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Institutional investors have recently bought and sold shares of the company. Comerica Bank raised its position in Iamgold Corporation by 1.9% in the first quarter. 1,604,808 shares of the company were exchanged. Spark Investment Management LLC boosted its stake in Pershing Gold Corporation by 100.0% in the first quarter. AQR Capital Management LLC now owns 45,137 shares of the mining company's stock worth $175,000 after buying an additional 33,282 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Iamgold Corporation during the first quarter valued at about $679,000. FMR LLC now owns 1,395,550 shares of the mining company's stock worth $7,199,000 after buying an additional 160,000 shares during the last quarter. About 2.57M shares traded. Hedge funds and other institutional investors own 57.95% of the company's stock.

According to Zacks, "Pershing Gold Corporation is engaged in the exploration and development of gold and precious metal properties primarily in Nevada".

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