IAMGOLD Corp (USA) (IAG) is Upgraded by RBC Capital Mkts to Sector Perform, Raises Price Target to $ 6.50

IAMGOLD Corp (USA) (IAG) was Upgraded by RBC Capital Mkts to ” Sector Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 6.50 from a previous price target of $5.50 . Earlier the firm had a rating of “Underperform ” on the company shares. RBC Capital Mkts advised their investors in a research report released on Aug 8, 2016.

Many Wall Street Analysts have commented on IAMGOLD Corp (USA). IAMGOLD Corp (USA) was Upgraded by Credit Suisse to ” Neutral” on Jun 30, 2016. IAMGOLD Corp (USA) was Upgraded by CIBC to ” Sector Perform” on Jun 27, 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) closed down -0.21 points or -3.65% at $5.54 with 1,01,11,357 shares getting traded on Friday. Post opening the session at $5.53, the shares hit an intraday low of $5.4 and an intraday high of $5.6 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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