Iamgold Corp. (IAG) Reaches New 12-Month High at $4.95
Shares of Iamgold Corp. (NYSE:IAG) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $4.95 and last traded at $4.87, with a volume of 4,929,841 shares trading hands. The stock had previously closed at $4.84.
Several research firms have issued reports on IAG. Zacks Investment Research lowered shares of Iamgold Corp. from a “buy” rating to a “hold” rating in a research report on Thursday. CIBC upgraded shares of Iamgold Corp. from a “sector underperform” rating to a “sector perform” rating in a research report on Monday, June 27th. Credit Suisse Group AG upgraded shares of Iamgold Corp. from an “underperform” rating to a “neutral” rating and upped their price target for the company from $3.00 to $5.25 in a research report on Thursday, June 30th. Howard Weil downgraded shares of Iamgold Corp. from a “sector perform” rating to an “underperform” rating in a research note on Wednesday, May 18th. Finally, Canaccord Genuity reaffirmed a “hold” rating on shares of Iamgold Corp. in a research note on Wednesday, June 15th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $2.56.
The company’s market capitalization is $1.96 billion. The stock 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 issued its quarterly earnings data on Tuesday, May 3rd. The mining company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. The business earned $219.70 million during the quarter, compared to analysts’ expectations of $224.24 million. The business’s quarterly revenue was down 10.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.07) earnings per share. On average, analysts anticipate that Iamgold Corp. will post ($0.07) EPS for the current year.
A hedge fund recently raised its stake in Iamgold Corp. stock. Russell Frank Co raised its position in Iamgold Corp. (NYSE:IAG) by 285.1% during the fourth quarter, according to its most recent Form 13F filing 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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