IAMGOLD (NYSE:IAG – Get Free Report) (TSE:IMG) was upgraded by analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.
IAG has been the subject of several other research reports. StockNews.com raised IAMGOLD from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. CIBC raised shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday. National Bank Financial raised shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $6.00 price objective on shares of IAMGOLD in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $6.68.
IAMGOLD Trading Up 5.4 %
Institutional Trading of IAMGOLD
Several institutional investors have recently added to or reduced their stakes in the business. ORG Partners LLC bought a new position in shares of IAMGOLD during the third quarter valued at $29,000. Eastern Bank purchased a new stake in shares of IAMGOLD during the 3rd quarter valued at about $30,000. TIAA Trust National Association bought a new stake in shares of IAMGOLD in the second quarter worth approximately $38,000. Cetera Advisors LLC purchased a new position in shares of IAMGOLD during the first quarter valued at approximately $50,000. Finally, WINTON GROUP Ltd bought a new position in IAMGOLD during the second quarter valued at approximately $52,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.
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.
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