Iamgold Corp. (IAG) Shares Up 5.2%
Iamgold Corp. (NYSE:IAG) shot up 5.2% during mid-day trading on Friday . The stock traded as high as $4.84 and last traded at $4.82, with a volume of 6,270,711 shares traded. The stock had previously closed at $4.58.
Several research firms have recently issued reports on IAG. Zacks Investment Research lowered shares of Iamgold Corp. from a “buy” rating to a “hold” rating in a research report on Thursday. Credit Suisse Group AG raised shares of Iamgold Corp. from an “underperform” rating to a “neutral” rating and raised their price target for the company from $3.00 to $5.25 in a report on Thursday, June 30th. CIBC raised shares of Iamgold Corp. from a “sector underperform” rating to a “sector perform” rating in a report on Monday, June 27th. Canaccord Genuity reaffirmed a “hold” rating on shares of Iamgold Corp. in a report on Wednesday, June 15th. Finally, Howard Weil lowered shares of Iamgold Corp. from a “sector perform” rating to an “underperform” rating in a report on Wednesday, May 18th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $2.56.
The stock has a 50-day moving average price of $3.90 and a 200-day moving average price of $2.70. The firm’s market cap is $1.96 billion.
Iamgold Corp. (NYSE:IAG) last posted its earnings results on Tuesday, May 3rd. The mining company reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.04. The business earned $219.70 million during the quarter, compared to analyst estimates of $224.24 million. During the same quarter last year, the firm earned ($0.07) earnings per share. Iamgold Corp.’s revenue was down 10.2% compared to the same quarter last year. Analysts anticipate that Iamgold Corp. will post ($0.07) earnings per share for the current year.
A hedge fund recently raised its stake in Iamgold Corp. stock. Russell Frank Co raised its position in shares of Iamgold Corp. (NYSE:IAG) by 285.1% during the fourth quarter, according to its most recent disclosure with the 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 about 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.