Iamgold Corp. (IAG) Shares Down 3%
Iamgold Corp. (NYSE:IAG)’s share price fell 3% during trading on Monday . The stock traded as low as $4.55 and last traded at $4.56, with a volume of 8,354,264 shares changing hands. The stock had previously closed at $4.70.
Several research firms have issued reports on IAG. RBC Capital Markets raised shares of Iamgold Corp. from an “underperform” rating to a “sector perform” rating and boosted their price objective for the company from $5.50 to $6.50 in a research report on Monday, August 8th. Royal Bank Of Canada raised shares of Iamgold Corp. from an “underperform” rating to a “sector perform” rating and boosted their price objective for the company from $5.50 to $6.50 in a research report on Monday, August 8th. Zacks Investment Research raised shares of Iamgold Corp. from a “hold” rating to a “strong-buy” rating and set a $5.50 price objective for the company in a research report on Monday, July 18th. Credit Suisse Group AG began coverage on shares of Iamgold Corp. in a research report on Thursday. They issued a “neutral” rating and a $5.25 price objective for the company. Finally, Paradigm Capital raised shares of Iamgold Corp. from a “hold” rating to a “buy” rating in a research report on Monday, July 18th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $3.46.
The company’s 50 day moving average price is $4.92 and its 200-day moving average price is $3.48. The stock’s market capitalization is $1.86 billion.
Iamgold Corp. (NYSE:IAG) last released its quarterly earnings data on Wednesday, August 3rd. The mining company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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. Iamgold Corp.’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.08) earnings per share. Equities analysts forecast that Iamgold Corp. will post $0.04 EPS for the current fiscal 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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