Iamgold Corporation’s (IAG) Buy Rating Reiterated at BMO Capital Markets

BMO Capital Markets reaffirmed their buy rating on shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) in a research note released on Wednesday morning. BMO Capital Markets currently has a $8.00 price target on the mining company’s stock.

IAG has been the topic of several other reports. Zacks Investment Research lowered shares of Iamgold Corporation from a buy rating to a hold rating in a research report on Tuesday, October 24th. Royal Bank of Canada set a $8.00 price target on shares of Iamgold Corporation and gave the stock a hold rating in a research report on Wednesday, October 18th. Scotiabank raised their price target on shares of Iamgold Corporation from $6.25 to $7.00 and gave the stock a sector perform rating in a research report on Friday, September 15th. Credit Suisse Group set a $6.00 price target on shares of Iamgold Corporation and gave the stock a hold rating in a research report on Tuesday, July 18th. Finally, Raymond James Financial, Inc. raised their price target on shares of Iamgold Corporation from $6.00 to $7.25 and gave the stock a market perform rating in a research report on Thursday, September 7th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Iamgold Corporation has a consensus rating of Hold and a consensus price target of $7.10.

Shares of Iamgold Corporation (NYSE:IAG) opened at $5.91 on Wednesday. The company has a quick ratio of 4.19, a current ratio of 4.78 and a debt-to-equity ratio of 0.14. The stock has a market cap of $2,747.56, a price-to-earnings ratio of 59.10, a price-to-earnings-growth ratio of 29.19 and a beta of -0.53. Iamgold Corporation has a 12-month low of $3.16 and a 12-month high of $7.25.

Iamgold Corporation (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Tuesday, November 7th. The mining company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.05. The company had revenue of $268.80 million for the quarter, compared to analyst estimates of $268.62 million. Iamgold Corporation had a net margin of 48.66% and a return on equity of 1.81%. The business’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period last year, the business posted $0.05 EPS. sell-side analysts predict that Iamgold Corporation will post 0.07 earnings per share for the current fiscal year.

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Several institutional investors have recently modified their holdings of the company. Van ECK Associates Corp boosted its position in shares of Iamgold Corporation by 1.6% during the 3rd quarter. Van ECK Associates Corp now owns 56,732,518 shares of the mining company’s stock valued at $346,069,000 after acquiring an additional 880,887 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Iamgold Corporation by 4.9% during the 2nd quarter. Renaissance Technologies LLC now owns 18,851,800 shares of the mining company’s stock valued at $97,275,000 after acquiring an additional 873,700 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Iamgold Corporation by 9.7% during the 2nd quarter. Vanguard Group Inc. now owns 9,492,363 shares of the mining company’s stock valued at $48,980,000 after acquiring an additional 838,766 shares in the last quarter. Tocqueville Asset Management L.P. lifted its holdings in Iamgold Corporation by 21.1% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 8,294,577 shares of the mining company’s stock valued at $50,597,000 after purchasing an additional 1,444,277 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Iamgold Corporation by 1.2% during the 2nd quarter. Franklin Resources Inc. now owns 5,452,000 shares of the mining company’s stock valued at $28,132,000 after purchasing an additional 65,000 shares during the last quarter. Institutional investors and hedge funds 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.

Analyst Recommendations for Iamgold Corporation (NYSE:IAG)

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