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

Judith Bessette
Agosto 13, 2017

TD Securities raised their price target on shares of IAMGOLD Corp from C$8.50 to C$9.00 and gave the company a "buy" rating in a research report on Thursday. IAMGOLD is actively exploring highly prospective ground in Africa and South America.

Several other brokerages have also recently commented on IAG. Canaccord Genuity raised their price target on shares of IAMGOLD Corp from C$9.25 to C$9.50 in a research report on Thursday, July 27th. National Bank Financial raised their price target on shares of IAMGOLD Corp from C$7.75 to C$8.50 and gave the company an "outperform" rating in a research report on Thursday, July 27th. CIBC lifted their price target on shares of IAMGOLD Corp from C$5.00 to C$5.75 in a report on Wednesday, June 7th. Finally, Scotiabank upgraded shares of Iamgold Corporation from an underperform rating to a sector perform rating in a report on Wednesday, May 10th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $5.88. Bank of America Corporation raised Iamgold Corporation from an "underperform" rating to a "neutral" rating in a report on Tuesday, May 23rd.

Shares of IAMGOLD Corp (IMG) traded up 3.75% on Thursday, reaching $6.92. The stock has a market cap of $2.53 billion, a PE ratio of 4.97 and a beta of -0.31. The stock's 50-day moving average is $2.90 and its 200 day moving average is $2.93.

Iamgold Corporation (NYSE:IAG) (TSE:IMG) last issued its earnings results on Wednesday, August 9th. Next quarter's EPS is expected be $0.01 and the next full year EPS is anticipated to be $0.06. Iamgold Corporation had a return on equity of 1.43% and a net margin of 46.75%. The company had revenue of $260.50 million during the quarter, compared to analysts' expectations of $264.54 million. Aegis Financial Corp now owns 219,652 shares of the basic materials company's stock valued at $624,000 after buying an additional 96,683 shares during the last quarter. The firm's revenue was up 18.1% on a year-over-year basis. Cambridge Investment Research Advisors Inc. now owns 450,624 shares of the basic materials company's stock valued at $1,257,000 after buying an additional 133,640 shares during the last quarter.

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A number of institutional investors have recently made changes to their positions in IAG. Cambridge Investment Research Advisors Inc. boosted its stake in Pershing Gold Corporation by 5.3% in the first quarter. As of the last earnings report the EPS was $1.10 and is estimated to be $0.04 for the current year with 464,600,000 shares now outstanding. Spark Investment Management LLC boosted its stake in Pershing Gold Corporation by 100.0% in the first quarter. Spark Investment Management LLC now owns 110,000 shares of the basic materials company's stock worth $312,000 after buying an additional 55,000 shares during the period. Sprott Inc. acquired a new position in Iamgold Corporation during the second quarter valued at approximately $114,000. Finally, ARP Americas LLC increased its stake in Iamgold Corporation by 122.2% in the first quarter. Wells Fargo & Company MN now owns 64,657 shares of the mining company's stock worth $258,000 after buying an additional 1,662 shares during the last quarter.

The company is up by 4.02 percent from yesterday's close. 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". Through its holdings, IAMGOLD has interests in various operations, exploration and development properties.

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