IAMGOLD (NYSE:IAG – Get Free Report) (TSE:IMG) was upgraded by stock analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.
Several other equities analysts have also weighed in on the stock. National Bank Financial upgraded shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Royal Bank of Canada restated a “sector perform” rating and set a $6.00 price target on shares of IAMGOLD in a research note on Tuesday, October 22nd. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating and upped their price target for the company from $7.75 to $10.50 in a research report on Tuesday, October 22nd. Finally, Scotiabank upped their price objective on shares of IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $6.68.
Read Our Latest Research Report on IAMGOLD
IAMGOLD Stock Performance
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in IAMGOLD by 368.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,521,670 shares of the mining company’s stock worth $7,772,000 after acquiring an additional 1,196,564 shares during the last quarter. Semanteon Capital Management LP bought a new position in shares of IAMGOLD in the third quarter worth approximately $503,000. Van ECK Associates Corp increased its stake in shares of IAMGOLD by 8.8% in the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock worth $276,639,000 after buying an additional 4,267,084 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in IAMGOLD by 158.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company’s stock valued at $24,301,000 after buying an additional 2,839,556 shares during the last quarter. Finally, U S Global Investors Inc. boosted its position in IAMGOLD by 241.6% during the 3rd quarter. U S Global Investors Inc. now owns 854,114 shares of the mining company’s stock valued at $4,467,000 after buying an additional 604,114 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.
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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