IAMGOLD Corp (USA) (IAG) is Upgraded by CIBC to Sector Perform

IAMGOLD Corp (USA) (IAG) was Upgraded by CIBC to ” Sector Perform”. Earlier the firm had a rating of “Sector Underperform ” on the company shares. CIBC advised their investors in a research report released on Jun 27, 2016.

Many Wall Street Analysts have commented on IAMGOLD Corp (USA). IAMGOLD Corp (USA) was Upgraded by Macquarie to ” Neutral” on May 5, 2016.

On the company’s financial health, IAMGOLD Corp (USA) reported $-0.16 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Feb 17, 2016. Analyst had a consensus of $-0.10. The company had revenue of $238.20 million for the quarter, compared to analysts expectations of $214.86 million. The company’s revenue was down -12.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.03 EPS.

IAMGOLD Corp (USA) opened for trading at $4.35 and hit $4.46 on the upside on Friday, eventually ending the session at $4.27, with a gain of 6.48% or 0.26 points. The heightened volatility saw the trading volume jump to 1,17,81,432 shares. Company has a market cap of $1,733 M.

IAMGOLD Corporation (IAMGOLD) is a mid-tier mining company with four operating gold mines on three continents. The Company mines include Rosebel Gold Mine Essakane Gold Mine Sadiola Gold Mine and Yatela Gold Mine. IAMGOLD operates in West Africa the Guiana Shield of South America and Quebec and has a pipeline of development and exploration projects. The Company holds 95% ownership in the Rosebel Gold Mine which is located in the Suriname South America. The Company’s 90% owned Essakane Gold Mine mine is located in the Burkina Faso West Africa. The Company holds 40% interest in the Sadiola Gold Mine which is located in the Mali North Western Africa. It also holds 40% interest in the Yatela Gold Mine which is located in the Mali North Western Africa. The Company also holds Greenfield exploration projects which include the Boto Gold Project the Siribaya exploration project and the Monster Lake project.


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