IAMGOLD (NYSE:IAG) Raised to “Outperform” at National Bank Financial

National Bank Financial upgraded shares of IAMGOLD (NYSE:IAG) (TSE:IMG) from a sector perform rating to an outperform rating in a research report sent to investors on Thursday morning, Marketbeat reports.

IAG has been the topic of several other reports. StockNews.com raised IAMGOLD from a sell rating to a hold rating in a research report on Saturday, August 17th. Scotiabank raised their price objective on shares of IAMGOLD from $4.75 to $5.50 and gave the stock a sector perform rating in a report on Monday, August 19th. Finally, CIBC boosted their target price on shares of IAMGOLD from $4.90 to $5.40 and gave the company a neutral rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $4.73.

IAMGOLD Stock Down 0.4 %

IAG opened at $4.83 on Thursday. IAMGOLD has a twelve month low of $2.11 and a twelve month high of $5.60. The company has a quick ratio of 0.90, a current ratio of 1.34 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average price of $4.96 and a 200-day moving average price of $4.23. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 17.25 and a beta of 1.59.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The business had revenue of $385.30 million during the quarter. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. Equities research analysts forecast that IAMGOLD will post 0.49 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IAG. ORG Partners LLC purchased a new position in IAMGOLD during the third quarter valued at approximately $29,000. TIAA Trust National Association purchased a new position in shares of IAMGOLD during the 2nd quarter valued at $38,000. Cetera Advisors LLC bought a new position in IAMGOLD in the 1st quarter worth $50,000. WINTON GROUP Ltd purchased a new stake in IAMGOLD in the 2nd quarter worth $52,000. Finally, Banque Cantonale Vaudoise purchased a new stake in IAMGOLD in the 2nd quarter worth $56,000. 47.08% of the stock is currently owned by institutional investors.

About IAMGOLD

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.