Iamgold Corp. (IAG) Stock Price Up 5.2%
Shares of Iamgold Corp. (NYSE:IAG) rose 5.2% during trading on Friday . The stock traded as high as $4.84 and last traded at $4.82, with a volume of 6,270,711 shares trading hands. The stock had previously closed at $4.58.
IAG has been the topic of several research analyst reports. Raymond James Financial Inc. lifted their price objective on Iamgold Corp. from $1.50 to $2.75 in a research note on Monday, March 14th. Credit Suisse Group AG reaffirmed a “neutral” rating on shares of Iamgold Corp. in a research note on Friday, April 1st. CIBC lifted their price objective on Iamgold Corp. from $2.00 to $2.15 in a research note on Friday, April 8th. Royal Bank Of Canada lifted their price objective on Iamgold Corp. from $2.25 to $2.75 in a research note on Tuesday, April 12th. Finally, Zacks Investment Research raised Iamgold Corp. from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a research note on Wednesday, April 20th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $2.56.
The firm’s market cap is $1.96 billion. The stock has a 50 day moving average of $3.90 and a 200-day moving average of $2.70.
Iamgold Corp. (NYSE:IAG) last announced its quarterly earnings data on Tuesday, May 3rd. The mining company reported ($0.02) EPS for the quarter, topping the Zacks’ 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. During the same quarter in the prior year, the business posted ($0.07) EPS. Iamgold Corp.’s revenue was down 10.2% compared to the same quarter last year. Analysts anticipate 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. Russell Frank Co boosted its stake in shares of Iamgold Corp. (NYSE:IAG) by 285.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,062,467 shares of the mining company’s stock after buying an additional 786,546 shares during the period. Russell Frank Co owned 0.27% of Iamgold Corp. worth $1,545,000 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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