Iamgold Corp. (IAG) Stock Price Down 4.4%
Iamgold Corp. (NYSE:IAG) fell 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 changing hands. The stock had previously closed at $4.77.
Several brokerages recently weighed in on IAG. Credit Suisse Group AG upgraded shares of Iamgold Corp. from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $3.00 to $5.25 in a research report on Thursday, June 30th. Macquarie upgraded shares of Iamgold Corp. from an “underperform” rating to a “neutral” rating in a research report on Thursday, May 5th. Zacks Investment Research upgraded shares of Iamgold Corp. from a “hold” rating to a “strong-buy” rating and set a $5.50 price target on the stock in a research report on Monday. Scotiabank upgraded shares of Iamgold Corp. from an “underperform” rating to a “sector perform” rating in a research report on Wednesday, July 13th. Finally, Canaccord Genuity restated a “hold” rating on shares of Iamgold Corp. in a research report on Wednesday, June 15th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $2.79.
The company’s market capitalization is $1.88 billion. The stock’s 50 day moving average price is $4.24 and its 200 day moving average price is $2.90.
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 analysts’ consensus estimates of ($0.06) by $0.04. The business had revenue of $219.70 million for the quarter, compared to analysts’ expectations of $224.24 million. During the same quarter last year, the business earned ($0.07) EPS. The company’s quarterly revenue was down 10.2% on a year-over-year basis. On average, equities research analysts predict that Iamgold Corp. will post ($0.02) EPS for the current fiscal year.
A hedge fund recently raised its stake in Iamgold Corp. stock. Bank of Montreal Can boosted its stake in shares of Iamgold Corp. (NYSE:IAG) by 45.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the SEC.
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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