Iamgold Corp. (IAG) Hits New 1-Year High at $5.37
Iamgold Corp. (NYSE:IAG) shares reached a new 52-week high during mid-day trading on Tuesday . The company 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.
A number of research firms recently issued reports on IAG. Zacks Investment Research raised Iamgold Corp. from a “hold” rating to a “strong-buy” rating and set a $5.50 target price on the stock in a report on Monday, July 18th. Paradigm Capital raised Iamgold Corp. from a “hold” rating to a “buy” rating in a research note on Monday, July 18th. Scotiabank raised Iamgold Corp. from an “underperform” rating to a “sector perform” rating in a research note on Wednesday, July 13th. CIBC raised Iamgold Corp. from a “sector underperform” rating to a “sector perform” rating in a research note on Monday, June 27th. Finally, Credit Suisse Group AG raised Iamgold Corp. from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $3.00 to $5.25 in a research note on Thursday, June 30th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $2.79.
The stock’s 50 day moving average is $4.55 and its 200 day moving average is $3.13. The stock’s market capitalization is $2.14 billion.
Iamgold Corp. (NYSE:IAG) last issued its quarterly earnings results on Wednesday, August 3rd. The mining company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. The firm had revenue of $232.50 million for the quarter, compared to analyst estimates of $245.68 million. The company’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company earned ($0.08) EPS. Equities research analysts anticipate that Iamgold Corp. will post ($0.02) earnings per share for the current year.
A hedge fund recently raised its stake in Iamgold Corp. stock. Russell Frank Co boosted its stake in shares of Iamgold Corp. (NYSE:IAG) by 285.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.