IAMGOLD Corp (TSE:IMG) PT Raised to C$9.00 at TD Securities

What Could Improve Economics at IAMGOLD’s Essakane Mine

Zacks Investment Research upgraded shares of Pershing Gold Corporation (NASDAQ:PGLC) from a hold rating to a buy rating in a research note published on Wednesday. Royal Bank Of Canada cut their price target on Iamgold Corporation from $6.50 to $6.00 and set a "sector perform" rating for the company in a report on Friday, July 28th. Credit Suisse Group set a $6.00 price target on shares of Iamgold Corporation and gave the company a hold rating in a research report on Tuesday, July 18th. BMO Capital Markets set a $5.00 price target on shares of Iamgold Corporation and gave the company a hold rating in a research report on Tuesday, June 6th. Finally, Scotiabank upgraded shares of Iamgold Corporation from an underperform rating to a sector perform rating in a report on Wednesday, May 10th. The brokerage now has $3.25 target price on the basic materials company's stock. The company presently has an average rating of Hold and a consensus target price of $5.88. Vanguard Group Inc. now owns 9,492,363 shares of the mining company's stock worth $48,980,000 after buying an additional 838,766 shares during the last quarter. IAMGOLD Corp has a 12 month low of $4.18 and a 12 month high of $7.52. The firm has a 50 day moving average of $6.63 and a 200-day moving average of $5.98. The stock has a market cap of $3.22 billion and a P/E ratio of 6.31.

Iamgold Corporation (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Wednesday, August 9th. The mining company reported $0.01 EPS for the quarter, meeting the Thomson Reuters' consensus estimate of $0.01. The firm had revenue of $274.50 million during the quarter, compared to the consensus estimate of $267.07 million. Iamgold Corporation had a negative net margin of 1.80% and a positive return on equity of 1.63%. The company's revenue for the quarter was up 18.1% on a year-over-year basis. Cormark analyst R. Gray now forecasts that the mining company will post earnings per share of $0.07 for the year, down from their previous forecast of $0.08.

Several equities research analysts recently weighed in on the stock.

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Institutional investors have recently bought and sold shares of the company. Comerica Bank increased its position in Iamgold Corporation by 1.9% in the first quarter. As of the last earnings report the EPS was $1.10 and is estimated to be $0.04 for the current year with 464,600,000 shares now outstanding.

Pershing Gold Corporation (NASDAQ:PGLC) traded up 0.68% during mid-day trading on Wednesday, reaching $2.94. Sprott Inc. acquired a new position in Iamgold Corporation during the second quarter worth approximately $114,000. World Asset Management Inc raised its position in Iamgold Corporation by 3.9% in the first quarter. FMR LLC now owns 1,395,550 shares of the mining company's stock worth $7,199,000 after buying an additional 160,000 shares during the last quarter. Finally, ARP Americas LLC increased its stake in Iamgold Corporation by 122.2% in the first quarter. Spark Investment Management LLC now owns 110,000 shares of the basic materials company's stock worth $312,000 after buying an additional 55,000 shares during the period.

IAMGOLD Corporation is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world.

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