Iamgold Corp. (IAG) Trading Down 4.4%
Iamgold Corp. (NYSE:IAG)’s share price dropped 4.4% during mid-day trading on Wednesday . The stock traded as low as $4.51 and last traded at $4.56, with a volume of 4,903,736 shares. The stock had previously closed at $4.77.
IAG has been the topic of several research reports. Royal Bank Of Canada increased their target price on Iamgold Corp. from $2.25 to $2.75 in a research note on Tuesday, April 12th. Credit Suisse Group AG reissued a “hold” rating on shares of Iamgold Corp. in a research note on Wednesday, June 15th. Zacks Investment Research lowered Iamgold Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, July 7th. Paradigm Capital raised Iamgold Corp. from a “hold” rating to a “buy” rating in a research note on Monday. Finally, CIBC increased their target price on Iamgold Corp. from $2.00 to $2.15 in a research note on Friday, April 8th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Iamgold Corp. has an average rating of “Hold” and an average target price of $2.79.
The stock’s market cap is $1.81 billion. The stock has a 50-day moving average price of $4.16 and a 200-day moving average price of $2.87.
Iamgold Corp. (NYSE:IAG) last announced its quarterly earnings data on Tuesday, May 3rd. The mining company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. During the same quarter last year, the company posted ($0.07) EPS. The company had revenue of $219.70 million for the quarter, compared to analyst estimates of $224.24 million. Iamgold Corp.’s revenue was down 10.2% on a year-over-year basis. Analysts expect that Iamgold Corp. will post ($0.03) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Iamgold Corp. stock. Russell Frank Co raised its position in shares of Iamgold Corp. (NYSE:IAG) by 285.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 approximately 0.27% of Iamgold Corp. worth $1,545,000 at the end of the most recent reporting period.
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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