IAMGOLD (NYSE:IAG) Upgraded 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 note released on Thursday, Marketbeat Ratings reports.

IAG has been the topic of a number of other research reports. CIBC lifted their target price on IAMGOLD from $4.90 to $5.40 and gave the stock a neutral rating in a research report on Monday, August 12th. StockNews.com upgraded shares of IAMGOLD from a sell rating to a hold rating in a research report on Saturday, August 17th. Finally, 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 research report on Monday, August 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $4.73.

IAMGOLD Price Performance

IAG traded up $0.09 during trading on Thursday, hitting $4.94. The company’s stock had a trading volume of 1,127,345 shares, compared to its average volume of 9,046,975. The company has a current ratio of 1.34, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 19.40 and a beta of 1.59. IAMGOLD has a twelve month low of $2.11 and a twelve month high of $5.60. The business’s fifty day simple moving average is $4.94 and its 200 day simple moving average is $4.22.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.08 by $0.08. The business had revenue of $385.30 million during the quarter. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. During the same quarter in the prior year, the business earned ($0.01) earnings per share. On average, equities research analysts forecast that IAMGOLD will post 0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IAG. SG Americas Securities LLC increased its stake in shares of IAMGOLD by 329.7% in the third quarter. SG Americas Securities LLC now owns 110,438 shares of the mining company’s stock valued at $578,000 after purchasing an additional 84,738 shares during the period. Mackenzie Financial Corp raised its stake in shares of IAMGOLD by 133.8% during the second quarter. Mackenzie Financial Corp now owns 2,992,780 shares of the mining company’s stock valued at $11,246,000 after purchasing an additional 1,712,640 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in IAMGOLD by 21.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 453,726 shares of the mining company’s stock valued at $1,702,000 after buying an additional 79,955 shares in the last quarter. Millennium Management LLC increased its stake in IAMGOLD by 194.2% during the 2nd quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company’s stock valued at $29,573,000 after buying an additional 5,204,715 shares during the period. Finally, Toronto Dominion Bank lifted its stake in shares of IAMGOLD by 512.0% in the 2nd quarter. Toronto Dominion Bank now owns 237,372 shares of the mining company’s stock worth $890,000 after acquiring an additional 198,585 shares during the period. 47.08% of the stock is owned by institutional investors and hedge funds.

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.