Iamgold (NYSE:IAG) Given “Market Perform” Rating at Raymond James

Raymond James restated their market perform rating on shares of Iamgold (NYSE:IAG) (TSE:IMG) in a report published on Friday morning, BayStreet.CA reports. Raymond James currently has a $5.00 target price on the mining company’s stock. Raymond James also issued estimates for Iamgold’s Q3 2020 earnings at $0.06 EPS and FY2020 earnings at $0.21 EPS.

IAG has been the subject of a number of other research reports. GMP Securities cut shares of Iamgold from a buy rating to a hold rating in a research note on Tuesday, July 23rd. Zacks Investment Research cut shares of Iamgold from a buy rating to a hold rating in a research note on Friday, October 18th. Deutsche Bank reiterated a buy rating on shares of Iamgold in a research note on Saturday, November 2nd. Royal Bank of Canada reissued a buy rating on shares of Iamgold in a report on Friday, October 25th. Finally, UBS Group reaffirmed a buy rating on shares of Iamgold in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Iamgold currently has a consensus rating of Hold and an average price target of $4.26.

IAG traded down $0.05 during midday trading on Friday, reaching $3.35. 6,500,647 shares of the company’s stock were exchanged, compared to its average volume of 5,421,397. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 55.83, a price-to-earnings-growth ratio of 49.60 and a beta of -0.02. The company has a quick ratio of 3.05, a current ratio of 4.14 and a debt-to-equity ratio of 0.15. Iamgold has a one year low of $2.28 and a one year high of $4.16. The business has a 50-day simple moving average of $3.61 and a two-hundred day simple moving average of $3.31.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Wednesday, August 7th. The mining company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The business had revenue of $246.50 million for 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 firm’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 EPS. As a group, research analysts anticipate that Iamgold will post 0.03 EPS for the current fiscal year.

In other Iamgold news, insider Harmer Peter sold 100,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $7.93, for a total transaction of $792,500.00.

A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC lifted its position in Iamgold by 7.3% during the 2nd quarter. SG Americas Securities LLC now owns 129,316 shares of the mining company’s stock worth $437,000 after buying an additional 8,852 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co lifted its position in Iamgold by 8.2% during the 2nd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 144,850 shares of the mining company’s stock worth $490,000 after buying an additional 11,000 shares in the last quarter. Brookstone Capital Management bought a new stake in Iamgold during the 3rd quarter worth about $38,000. Ladenburg Thalmann Financial Services Inc. lifted its position in Iamgold by 33.8% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 48,263 shares of the mining company’s stock worth $163,000 after buying an additional 12,196 shares in the last quarter. Finally, Cerebellum GP LLC bought a new stake in Iamgold during the 3rd quarter worth about $77,000. 57.30% of the stock is currently owned by hedge funds and other institutional investors.

Iamgold Company Profile

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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