Royal Bank Of Canada Analysts Give Iamgold Corporation (NYSE:IAG) a $8.00 Price Target

Royal Bank Of Canada set a $8.00 target price on Iamgold Corporation (NYSE:IAG) (TSE:IMG) in a research report released on Wednesday, October 18th. The brokerage currently has a hold rating on the mining company’s stock.

Other equities research analysts have also recently issued research reports about the stock. TheStreet raised shares of Iamgold Corporation from a c- rating to a b rating in a report on Thursday, August 17th. Zacks Investment Research raised shares of Iamgold Corporation from a hold rating to a buy rating and set a $6.00 target price on the stock in a report on Tuesday, August 1st. BidaskClub raised shares of Iamgold Corporation from a hold rating to a buy rating in a report on Saturday, August 19th. BMO Capital Markets reissued a buy rating and set a $8.00 target price on shares of Iamgold Corporation in a report on Monday, October 2nd. Finally, ValuEngine raised shares of Iamgold Corporation from a sell rating to a hold rating in a report on Thursday, August 17th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $7.23.

Iamgold Corporation (NYSE:IAG) traded up 2.58% during midday trading on Wednesday, hitting $5.57. The stock had a trading volume of 3,010,827 shares. Iamgold Corporation has a 52 week low of $3.16 and a 52 week high of $7.25. The firm has a market cap of $2.59 billion, a P/E ratio of 5.08 and a beta of -0.48. The stock has a 50-day moving average of $6.19 and a 200-day moving average of $5.31.

Iamgold Corporation (NYSE:IAG) (TSE:IMG) last issued its earnings results on Wednesday, August 9th. The mining company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $267.07 million. During the same quarter in the previous year, the firm posted $0.01 EPS. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. Analysts forecast that Iamgold Corporation will post $0.05 EPS for the current fiscal year.

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Large investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. grew its position 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 worth $110,000 after acquiring an additional 10,773 shares in the last quarter. Sprott Inc. purchased a new position in Iamgold Corporation in the second quarter worth $114,000. Quantbot Technologies LP purchased a new position in Iamgold Corporation in the second quarter worth $131,000. Comerica Bank grew its position in Iamgold Corporation by 1.9% in the first quarter. Comerica Bank now owns 25,820 shares of the mining company’s stock worth $104,000 after acquiring an additional 485 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Iamgold Corporation in the second quarter worth $137,000. Institutional investors own 56.04% 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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