Iamgold Corp. (IAG) Stock Price Down 3.2%
Iamgold Corp. (NYSE:IAG) shares were down 3.2% on Thursday . The stock traded as low as $4.54 and last traded at $4.58, with a volume of 6,814,264 shares. The stock had previously closed at $4.73.
Several research analysts recently commented on the stock. Raymond James Financial Inc. raised their price target on shares of Iamgold Corp. from $1.50 to $2.75 in a report on Monday, March 14th. Credit Suisse Group AG restated a “neutral” rating on shares of Iamgold Corp. in a report on Friday, April 1st. CIBC raised their price target on shares of Iamgold Corp. from $2.00 to $2.15 in a report on Friday, April 8th. Royal Bank Of Canada raised their price target on shares of Iamgold Corp. from $2.25 to $2.75 in a report on Tuesday, April 12th. Finally, Zacks Investment Research upgraded shares of Iamgold Corp. from a “hold” rating to a “buy” rating and set a $3.25 price target on the stock in a report on Wednesday, April 20th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $2.56.
The firm’s market capitalization is $1.96 billion. The company has a 50-day moving average price of $3.90 and a 200-day moving average price of $2.70.
Iamgold Corp. (NYSE:IAG) last announced its quarterly earnings results on Tuesday, May 3rd. The mining company reported ($0.02) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.04. The firm earned $219.70 million during the quarter, compared to the consensus estimate of $224.24 million. The company’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) EPS. On average, analysts forecast that Iamgold Corp. will post ($0.07) EPS for the current year.
A hedge fund recently raised its stake in Iamgold Corp. stock. Bank of Montreal Can increased its stake in Iamgold Corp. (NYSE:IAG) by 45.7% during the fourth quarter, Holdings Channel reports. The firm 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 approximately 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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