Iamgold Corp. (IAG) Sets New 12-Month High at $5.37
Iamgold Corp. (NYSE:IAG) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $5.37 and last traded at $5.32, with a volume of 6,577,533 shares. The stock had previously closed at $5.22.
Several equities research analysts have issued reports on IAG shares. Canaccord Genuity reaffirmed a “hold” rating on shares of Iamgold Corp. in a research note on Wednesday, June 15th. Paradigm Capital upgraded Iamgold Corp. from a “hold” rating to a “buy” rating in a report on Monday, July 18th. CIBC upgraded Iamgold Corp. from a “sector underperform” rating to a “sector perform” rating in a report on Monday, June 27th. Credit Suisse Group AG reiterated a “sell” rating and set a $2.00 price target on shares of Iamgold Corp. in a report on Thursday, May 5th. Finally, Scotiabank upgraded Iamgold Corp. from an “underperform” rating to a “sector perform” rating in a report on Wednesday, July 13th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Iamgold Corp. presently has a consensus rating of “Hold” and an average target price of $2.79.
The company’s market cap is $2.17 billion. The stock’s 50 day moving average is $4.46 and its 200 day moving average is $3.09.
Iamgold Corp. (NYSE:IAG) last posted its earnings results on Tuesday, May 3rd. The mining company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.04. The firm earned $219.70 million during the quarter, compared to analyst estimates of $224.24 million. During the same period last year, the company posted ($0.07) EPS. The firm’s revenue for the quarter was down 10.2% on a year-over-year basis. Equities research analysts predict that Iamgold Corp. will post ($0.01) earnings per share for the current year.
An institutional investor recently raised its position 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 filing 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 approximately 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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