IAMGOLD (NYSE:IAG – Get Free Report) (TSE:IMG) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.
IAG has been the topic of a number of other reports. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. National Bank Financial raised shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and increased their target price for the company from $7.75 to $10.50 in a research report on Tuesday, October 22nd. Scotiabank boosted their price target on shares of IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. Finally, CIBC increased their price objective on shares of IAMGOLD from $5.40 to $6.40 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $6.68.
View Our Latest Research Report on IAMGOLD
IAMGOLD Trading Down 3.7 %
Hedge Funds Weigh In On IAMGOLD
A number of institutional investors have recently bought and sold shares of IAG. BNP Paribas Financial Markets increased its holdings in shares of IAMGOLD by 326.7% during the 1st quarter. BNP Paribas Financial Markets now owns 609,440 shares of the mining company’s stock worth $2,029,000 after buying an additional 466,620 shares during the last quarter. Headlands Technologies LLC acquired a new stake in IAMGOLD during the first quarter worth $389,000. Vanguard Group Inc. raised its position in IAMGOLD by 1.0% in the first quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock valued at $58,871,000 after purchasing an additional 168,302 shares during the period. Donald Smith & CO. Inc. lifted its stake in shares of IAMGOLD by 0.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 36,077,268 shares of the mining company’s stock valued at $120,137,000 after purchasing an additional 298,959 shares during the last quarter. Finally, Linscomb Wealth Inc. purchased a new position in shares of IAMGOLD during the 1st quarter worth $67,000. 47.08% of the stock is owned by hedge funds and other 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.
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