Iamgold (NYSE:IAG) Stock Rating Reaffirmed by Raymond James

Raymond James reaffirmed their market perform rating on shares of Iamgold (NYSE:IAG) (TSE:IMG) in a report published on Friday morning, BayStreet.CA reports. They currently have a $4.00 price target on the mining company’s stock.

IAG has been the topic of several other research reports. Royal Bank of Canada decreased their price objective on Iamgold from $5.00 to $3.25 and set a sector perform rating on the stock in a report on Tuesday, May 21st. Canaccord Genuity reissued a hold rating on shares of Iamgold in a report on Friday, July 19th. BMO Capital Markets lowered Iamgold from an outperform rating to a market perform rating in a report on Monday, May 6th. CIBC reissued an average rating on shares of Iamgold in a report on Sunday, August 4th. Finally, Credit Suisse Group lowered Iamgold from an outperform rating to a neutral rating in a report on Thursday, August 8th. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $4.12.

Shares of NYSE IAG opened at $3.40 on Friday. The company has a current ratio of 4.14, a quick ratio of 3.05 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $3.57. Iamgold has a 12 month low of $2.28 and a 12 month high of $5.11.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Wednesday, August 7th. The mining company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.02). The business had revenue of $246.50 million during the quarter, compared to the consensus estimate of $272.94 million. Iamgold had a negative return on equity of 1.45% and a negative net margin of 9.84%. The business’s quarterly revenue was down 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 earnings per share. On average, research analysts forecast that Iamgold will post 0.04 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the company. Moors & Cabot Inc. acquired a new stake in Iamgold in the 1st quarter valued at $34,000. K.J. Harrison & Partners Inc acquired a new stake in Iamgold in the 1st quarter valued at $35,000. Hellman Jordan Management Co. Inc. MA acquired a new stake in Iamgold in the 1st quarter valued at $45,000. Cetera Advisors LLC acquired a new stake in Iamgold in the 2nd quarter valued at $49,000. Finally, Clean Yield Group acquired a new position in Iamgold in the first quarter worth $56,000. 57.42% of the stock is currently owned by institutional investors.

About Iamgold

IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine in Burkina Faso, West Africa; the Westwood mine in Quebec, Canada; and the Sadiola mine located in Mali, West Africa.

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Analyst Recommendations for Iamgold (NYSE:IAG)

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