Iamgold Corp. (IAG) Hits New 12-Month High at $4.95
Iamgold Corp. (NYSE:IAG) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $4.95 and last traded at $4.87, with a volume of 4,929,841 shares traded. The stock had previously closed at $4.84.
A number of equities research analysts have issued reports on the company. Macquarie raised Iamgold Corp. from an “underperform” rating to a “neutral” rating in a research report on Thursday, May 5th. Credit Suisse Group AG raised Iamgold Corp. from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $3.00 to $5.25 in a research report on Thursday, June 30th. CIBC upped their target price on Iamgold Corp. from $2.00 to $2.15 in a research report on Friday, April 8th. Zacks Investment Research cut Iamgold Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, July 7th. Finally, Royal Bank Of Canada upped their target price on Iamgold Corp. from $2.25 to $2.75 in a research report on Tuesday, April 12th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Iamgold Corp. has an average rating of “Hold” and a consensus price target of $2.56.
The company’s 50-day moving average price is $3.97 and its 200 day moving average price is $2.76. The stock’s market capitalization is $1.90 billion.
Iamgold Corp. (NYSE:IAG) last announced its earnings results on Tuesday, May 3rd. The mining company reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.04. During the same period in the prior year, the business posted ($0.07) EPS. The firm earned $219.70 million during the quarter, compared to analyst estimates of $224.24 million. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. Equities research analysts predict that Iamgold Corp. will post ($0.05) EPS for the current fiscal year.
A hedge fund recently raised its stake in Iamgold Corp. stock. Bank of Montreal Can increased its position in shares of Iamgold Corp. (NYSE:IAG) by 45.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 0.95% of Iamgold Corp. worth $5,267,000 as of its most recent SEC filing.
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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