Iamgold Corp. (IAG) Trading Down 0.6%
Shares of Iamgold Corp. (NYSE:IAG) fell 0.6% during mid-day trading on Monday . The stock traded as low as $4.96 and last traded at $4.97, with a volume of 11,385,431 shares traded. The stock had previously closed at $5.00.
Several brokerages have issued reports on IAG. RBC Capital Markets raised Iamgold Corp. from an “underperform” rating to a “sector perform” rating and upped their target price for the stock from $5.50 to $6.50 in a research note on Monday, August 8th. Royal Bank Of Canada raised Iamgold Corp. from an “underperform” rating to a “sector perform” rating and upped their target price for the stock from $5.50 to $6.50 in a research note on Monday, August 8th. Zacks Investment Research raised Iamgold Corp. from a “hold” rating to a “strong-buy” rating and set a $5.50 target price for the company in a research note 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. Finally, Scotiabank raised Iamgold Corp. from an “underperform” rating to a “sector perform” rating in a research note on Wednesday, July 13th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $3.46.
The stock’s market capitalization is $2.00 billion. The stock has a 50-day moving average price of $4.85 and a 200-day moving average price of $3.36.
Iamgold Corp. (NYSE:IAG) last issued its earnings results on Wednesday, August 3rd. The mining company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.03. During the same period last year, the firm earned ($0.08) earnings per share. The firm had revenue of $232.50 million for the quarter, compared to the consensus estimate of $245.68 million. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts forecast that Iamgold Corp. will post $0.04 EPS for the current year.
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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