Iamgold Corp. (IAG) Hits New 1-Year High at $5.04
Iamgold Corp. (NYSE:IAG) reached a new 52-week high during trading on Wednesday . The stock traded as high as $5.04 and last traded at $5.00, with a volume of 16,044,402 shares. The stock had previously closed at $4.63.
IAG has been the topic of several analyst reports. Credit Suisse Group AG raised Iamgold Corp. from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $3.00 to $5.25 in a report on Thursday, June 30th. Paradigm Capital raised Iamgold Corp. from a “hold” rating to a “buy” rating in a report on Monday, July 18th. Zacks Investment Research raised Iamgold Corp. from a “hold” rating to a “buy” rating and set a $3.25 price target on the stock in a report on Wednesday, April 20th. Scotiabank raised Iamgold Corp. from an “underperform” rating to a “sector perform” rating in a report on Wednesday, July 13th. Finally, CIBC raised Iamgold Corp. from a “sector underperform” rating to a “sector perform” rating in a report on Monday, June 27th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $2.79.
Iamgold Corp. (NYSE:IAG) last announced its quarterly earnings data on Tuesday, May 3rd. The mining company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.04. The firm had revenue of $219.70 million for the quarter, compared to analysts’ expectations of $224.24 million. During the same quarter in the prior year, the business posted ($0.07) earnings per share. Iamgold Corp.’s revenue was down 10.2% on a year-over-year basis.
An institutional investor recently raised its position in Iamgold Corp. stock. Bank of Montreal Can boosted its stake in Iamgold Corp. (NYSE:IAG) by 45.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 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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