Iamgold Corp. (IAG) Sees Large Volume Increase
Shares of Iamgold Corp. (NYSE:IAG) saw unusually-strong trading volume on Tuesday . Approximately 16,520,106 shares traded hands during mid-day trading, an increase of 43% from the previous session’s volume of 11,525,119 shares.The stock last traded at $5.13 and had previously closed at $5.68.
A number of equities analysts have weighed in on IAG shares. Paradigm Capital raised Iamgold Corp. from a “hold” rating to a “buy” rating in a research report on Monday, July 18th. 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 research report on Thursday, June 30th. Zacks Investment Research raised Iamgold Corp. from a “hold” rating to a “buy” rating and set a $3.25 target price for the company in a research report on Wednesday, April 20th. Scotiabank raised Iamgold Corp. from an “underperform” rating to a “sector perform” rating in a research report on Wednesday, July 13th. Finally, CIBC raised Iamgold Corp. from a “sector underperform” rating to a “sector perform” rating in a research report on Monday, June 27th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Iamgold Corp. currently has a consensus rating of “Hold” and an average price target of $3.16.
The stock’s market capitalization is $2.07 billion. The stock has a 50 day moving average of $4.73 and a 200-day moving average of $3.25.
Iamgold Corp. (NYSE:IAG) last issued its quarterly earnings data on Wednesday, August 3rd. The mining company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The company had revenue of $232.50 million for the quarter, compared to the consensus estimate of $245.68 million. Iamgold Corp.’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.08) EPS. On average, equities research analysts predict 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 stake in Iamgold Corp. (NYSE:IAG) by 285.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 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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