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

Understanding IAMGOLD’s 2Q17 Earnings Highlights

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

IAMGOLD Corp (TSE:IMG) (NYSE:IAG) had its price target lifted by TD Securities from C$8.50 to C$9.00 in a research note issued to investors on Thursday.

IMG has been the subject of a number of other research reports. Roth Capital set a $6.00 target price on shares of Pershing Gold Corporation and gave the stock a buy rating in a report on Monday, June 12th. 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. Bank of America Corporation raised Iamgold Corporation from an "underperform" rating to a "neutral" rating in a report on Tuesday, May 23rd. Noble Financial reissued a buy rating on shares of Pershing Gold Corporation in a report on Thursday, June 8th. Finally, Scotiabank raised shares of Iamgold Corporation from an underperform rating to a sector perform rating in a report on Wednesday, May 10th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock.

Iamgold Corporation (IAG) traded up 4.41% during midday trading on Wednesday, hitting $5.45. The company had a trading volume of 4,779,433 shares. Iamgold Corporation has a 1-year low of $3.14 and a 1-year high of $5.87. The stock has a 50 day moving average price of $6.63 and a 200-day moving average price of $5.98. The stock has a market cap of $3.22 billion and a P/E ratio of 6.31.

Iamgold Corporation (NYSE:IAG) (TSE:IMG) last issued its earnings results on Tuesday, May 9th. The mining company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $274.50 million during the quarter, compared to the consensus estimate of $267.07 million. Iamgold Corporation had a negative net margin of 1.80% and a positive return on equity of 1.63%. Iamgold Corporation's revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.02) EPS. Finally, ValuEngine raised Iamgold Corporation from a "sell" rating to a "hold" rating in a report on Tuesday, May 23rd.

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Institutional investors have recently bought and sold shares of the company. Commerzbank Aktiengesellschaft FI increased its stake in Iamgold Corporation by 67.4% in the first quarter. Comerica Bank now owns 25,820 shares of the mining company's stock worth $104,000 after buying an additional 485 shares in the last quarter. Institutional investors own 57.95% of the company's stock. Canada Pension Plan Investment Board purchased a new stake in shares of Iamgold Corporation during the first quarter valued at about $679,000. Vanguard Group Inc. now owns 614,718 shares of the basic materials company's stock valued at $1,715,000 after buying an additional 29,018 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Iamgold Corporation during the second quarter worth approximately $137,000. ARP Americas LLC now owns 46,000 shares of the mining company's stock worth $184,000 after buying an additional 25,300 shares during the last quarter.

IAMGOLD Corporation is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world.

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