Iamgold Corporation (IAG) Stock Rating Reaffirmed by Royal Bank Of Canada

What Could Improve Economics at IAMGOLD’s Essakane Mine

What Could Improve Economics at IAMGOLD’s Essakane Mine

Several other research firms also recently commented on IAG. National Bank Financial increased their target price 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. Credit Suisse downgraded IAMGOLD Corp (USA) (NYSE:IAG) on Friday, January 13 to "Underperform" rating. Noble Financial reissued a buy rating on shares of Pershing Gold Corporation in a report on Thursday, June 8th. CIBC raised their price objective on shares of IAMGOLD Corp from C$5.00 to C$5.75 in a research report on Wednesday, June 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $5.88. The company's stock had a trading volume of 25,172 shares. Shares are trading at $5.43 which is a tad above the 50 day moving average which is $5.19 and which is well above the 200 day moving average of $4.53. The firm's market cap is $2.53 billion.

Iamgold Corporation (NYSE:IAG) (TSE:IMG) last issued its earnings results on Wednesday, August 9th. Next quarter's EPS is forecasted at $0.01 and the next full year EPS is projected to be $0.06. The company had revenue of $260.50 million during the quarter, compared to analysts' expectations of $264.54 million. Iamgold Corporation had a net margin of 46.75% and a return on equity of 1.51%. The firm's revenue was up 18.1% on a year-over-year basis. 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 stock of IAMGOLD Corp (USA) (NYSE:IAG) has "Hold" rating given on Tuesday, November 24 by HSBC.

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A number of institutional investors have recently made changes to their positions in IAG. Renaissance Technologies LLC increased its position in shares of Iamgold Corporation by 4.9% in the second quarter. Ruffer LLP now owns 455,826 shares of the basic materials company's stock worth $1,347,000 after buying an additional 310,405 shares during the period.

Shares of Iamgold Corporation (NYSE:IAG) opened at 5.22 on Wednesday. Hedge funds and other institutional investors own 57.95% of the company's stock. Vanguard Group Inc. boosted its stake in Pershing Gold Corporation by 5.0% in the second quarter. Finally, Spark Investment Management LLC increased its stake in Pershing Gold Corporation by 100.0% in the first quarter. 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. Advisor Group Inc. now owns 33,950 shares of the mining company's stock worth $175,000 after buying an additional 750 shares during the last quarter.

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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