Iamgold Corp. (IAG) Trading Down 3.2%
Iamgold Corp. (NYSE:IAG)’s share price traded down 3.2% during trading on Thursday . The company traded as low as $4.54 and last traded at $4.58, with a volume of 6,814,264 shares trading hands. The stock had previously closed at $4.73.
A number of equities analysts have recently commented on the stock. Credit Suisse Group AG reissued a “sell” rating and issued a $2.00 price target on shares of Iamgold Corp. in a research report on Thursday, May 5th. Royal Bank Of Canada lifted their price target on shares of Iamgold Corp. from $2.25 to $2.75 in a research report on Tuesday, April 12th. Zacks Investment Research lowered shares of Iamgold Corp. from a “buy” rating to a “hold” rating in a research report on Thursday. Canaccord Genuity reissued a “hold” rating on shares of Iamgold Corp. in a research report on Wednesday, June 15th. Finally, Macquarie raised shares of Iamgold Corp. from an “underperform” rating to a “neutral” rating in a research report on Thursday, May 5th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Iamgold Corp. presently has a consensus rating of “Hold” and an average price target of $2.56.
The firm’s market cap is $1.86 billion. The stock’s 50 day moving average is $3.87 and its 200 day moving average is $2.68.
Iamgold Corp. (NYSE:IAG) last released its quarterly earnings data on Tuesday, May 3rd. The mining company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.04. The company earned $219.70 million during the quarter, compared to analyst estimates of $224.24 million. During the same period in the previous year, the company posted ($0.07) EPS. The company’s quarterly revenue was down 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Iamgold Corp. will post ($0.07) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Iamgold Corp. stock. Bank of Montreal Can increased its stake in shares of Iamgold Corp. (NYSE:IAG) by 45.7% during the fourth quarter, Holdings Channel reports. The fund owned 3,709,330 shares of the mining company’s stock after buying an additional 1,164,286 shares during the period. Bank of Montreal Can owned about 0.95% of Iamgold Corp. worth $5,267,000 at the end of the most recent quarter.
IAMGOLD Corporation (IAMGOLD) is engaged in the exploration, development and production of mineral resource properties across the world. Through its holdings, IAMGOLD has interests in various operations and exploration properties, as well as various royalty interests on mineral resource properties. All gold produced by IAMGOLD is in the form of dore bars, which is sold to gold refineries in North America and Europe.
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