Credit Suisse Upgrades IAMGOLD Corp (USA) to Neutral

Brokerage firm Credit Suisse Upgrades its rating on IAMGOLD Corp (USA)(NYSE:IAG). The shares have been rated Neutral. Previously, the analysts had a Underperform rating on the shares. The rating by Credit Suisse was issued on Jun 30, 2016.

In a different note, On Jun 27, 2016, CIBC said it Upgrades its rating on IAMGOLD Corp (USA). The shares have been rated ‘Sector Performer’ by the firm. On May 18, 2016, Scotia Howard Weil said it Downgrades its rating on IAMGOLD Corp (USA). The shares have been rated ‘Underperform’ by the firm. On May 5, 2016, Macquarie said it Upgrades its rating on IAMGOLD Corp (USA). The shares have been rated ‘Neutral’ by the firm.

IAMGOLD Corp (USA) (IAG) made into the market gainers list on Tuesdays trading session with the shares advancing 3.13% or 0.14 points. Due to strong positive momentum, the stock ended at $4.61, which is also near the day’s high of $4.675. The stock began the session at $4.53 and the volume stood at 1,00,31,743 shares. The 52-week high of the shares is $4.675 and the 52 week low is $1.15. The company has a current market capitalization of $1,871 M and it has 40,59,00,000 shares in outstanding.

IAMGOLD Corp (USA)(IAG) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $219.70M. Analysts had an estimated revenue of $228.99M. Earnings per share were $-0.02. Analysts had estimated an EPS of $-0.07.

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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