Iamgold Corp. (IAG) Shares Down 3%
Iamgold Corp. (NYSE:IAG) shares fell 3% during mid-day trading on Tuesday . The stock traded as low as $3.87 and last traded at $3.88, with a volume of 4,525,667 shares. The stock had previously closed at $4.00.
Several brokerages recently issued reports on IAG. Credit Suisse Group AG reissued a “sell” rating and set a $2.00 target price on shares of Iamgold Corp. in a report on Thursday, May 5th. RBC Capital Markets raised shares of Iamgold Corp. from an “underperform” rating to a “sector perform” rating and raised their target price for the stock from $5.50 to $6.50 in a 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 target price for the company in a report on Monday, July 18th. Macquarie raised shares of Iamgold Corp. from an “underperform” rating to a “neutral” rating in a report on Thursday, May 5th. Finally, Canaccord Genuity reissued a “hold” rating on shares of Iamgold Corp. in a report on Wednesday, June 15th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $3.46.
The firm’s market cap is $1.55 billion. The firm has a 50-day moving average price of $4.82 and a 200-day moving average price of $3.55.
Iamgold Corp. (NYSE:IAG) last issued its quarterly earnings results on Wednesday, August 3rd. The mining company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.03. The business had revenue of $232.50 million for the quarter, compared to analyst estimates of $245.68 million. During the same quarter in the prior year, the company earned ($0.08) EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts anticipate 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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