IAMGOLD (NYSE:IAG – Get Free Report) (TSE:IMG) was upgraded by CIBC from a “neutral” rating to a “sector outperform” rating in a research report issued on Monday, Marketbeat reports.
Several other brokerages have also commented on IAG. Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 price objective on shares of IAMGOLD in a report on Tuesday, October 22nd. Scotiabank lifted their price target on IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. StockNews.com raised IAMGOLD from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Finally, National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $6.68.
Check Out Our Latest Report on IAMGOLD
IAMGOLD Price Performance
Institutional Investors Weigh In On IAMGOLD
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in IAMGOLD in the third quarter valued at $267,000. Toronto Dominion Bank raised its position in IAMGOLD by 15.6% in the third quarter. Toronto Dominion Bank now owns 274,377 shares of the mining company’s stock valued at $1,435,000 after purchasing an additional 37,005 shares during the period. Geode Capital Management LLC raised its position in IAMGOLD by 2.7% in the third quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company’s stock valued at $1,392,000 after purchasing an additional 6,874 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in IAMGOLD in the third quarter valued at $1,083,000. Finally, XTX Topco Ltd raised its position in IAMGOLD by 84.5% in the third quarter. XTX Topco Ltd now owns 118,740 shares of the mining company’s stock valued at $621,000 after purchasing an additional 54,392 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.
IAMGOLD Company Profile
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.
Featured Stories
- Five stocks we like better than IAMGOLD
- How to Invest in Tech Stocks and Top Tech Stocks to Consider
- 3 Stocks Near 52-Week Lows: Why They Could Be Smart Buys Today
- Do ETFs Pay Dividends? What You Need to Know
- 4 AI-Powered Fintechs Revolutionizing the Future of Finance
- TSX Venture Exchange (Formerly Canadian Venture Exchange)
- Ambarella’s Traction Drives Stock Surge: Market Reversal Underway
Receive News & Ratings for IAMGOLD Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IAMGOLD and related companies with MarketBeat.com's FREE daily email newsletter.