Trading Report: Today, TD Securities Upgraded Iamgold Corp. (IAG) to “Buy”

Today, TD Securities Upgraded Iamgold Corp. (IAG) to “Buy”

Iamgold Corp. (NYSE:IAG) (TSE:IMG) was upgraded by research analysts at TD Securities from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

A number of other brokerages also recently issued reports on IAG. RBC Capital Markets upgraded shares of Iamgold Corp. from an “underperform” rating to a “sector perform” rating and increased their price target for the company from $5.50 to $6.50 in a report on Monday, August 8th. Royal Bank Of Canada upgraded shares of Iamgold Corp. from an “underperform” rating to a “sector perform” rating and increased their price target for the company from $5.50 to $6.50 in a report on Monday, August 8th. Zacks Investment Research upgraded shares of Iamgold Corp. from a “hold” rating to a “strong-buy” rating and set a $5.50 price target for the company in a report on Monday, July 18th. Credit Suisse Group AG assumed coverage on shares of Iamgold Corp. in a report on Thursday, August 18th. They set a “neutral” rating and a $5.25 target price for the company. Finally, Paradigm Capital upgraded shares of Iamgold Corp. from a “hold” rating to a “buy” rating in a report on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. Iamgold Corp. has an average rating of “Hold” and an average target price of $4.27.

Iamgold Corp. (NYSE:IAG) opened at 3.64 on Tuesday. Iamgold Corp. has a one year low of $1.15 and a one year high of $5.87. The firm’s market capitalization is $1.64 billion. The stock has a 50 day moving average of $3.82 and a 200 day moving average of $4.14.

Iamgold Corp. (NYSE:IAG) last announced its quarterly earnings results on Monday, November 7th. The mining company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.03. The business earned $282.40 million during the quarter, compared to the consensus estimate of $258.10 million. Iamgold Corp. had a negative net margin of 63.53% and a negative return on equity of 2.05%. The business’s revenue was up 36.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.22) EPS. Analysts forecast that Iamgold Corp. will post $0.03 earnings per share for the current year.

Large investors have recently modified their holdings of the company. Credit Suisse AG increased its stake in shares of Iamgold Corp. by 10.5% in the third quarter. Credit Suisse AG now owns 1,057,042 shares of the mining company’s stock worth $4,282,000 after buying an additional 100,634 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in Iamgold Corp. by 117.3% in the third quarter. D. E. Shaw & Co. Inc. now owns 983,406 shares of the mining company’s stock valued at $3,983,000 after buying an additional 530,868 shares in the last quarter. OLD Mission Capital LLC bought a new stake in Iamgold Corp. during the third quarter valued at about $758,000. The Manufacturers Life Insurance Company bought a new stake in Iamgold Corp. during the third quarter valued at about $996,000. Finally, Two Sigma Advisers LP bought a new stake in Iamgold Corp. during the third quarter valued at about $1,520,000. Institutional investors and hedge funds own 48.24% of the company’s stock.

Iamgold Corp. Company Profile

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