Iamgold Corp. (IAG) Shares Up 3.6%
Shares of Iamgold Corp. (NYSE:IAG) shot up 3.6% during trading on Monday . The company traded as high as $4.90 and last traded at $4.90, with a volume of 9,617,479 shares trading hands. The stock had previously closed at $4.73.
A number of brokerages have recently commented on IAG. Macquarie raised Iamgold Corp. from an “underperform” rating to a “neutral” rating in a research note on Thursday, May 5th. Credit Suisse Group AG upgraded Iamgold Corp. from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $3.00 to $5.25 in a research report on Thursday, June 30th. Zacks Investment Research lowered Iamgold Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, July 7th. CIBC boosted their price objective on Iamgold Corp. from $2.00 to $2.15 in a research report on Friday, April 8th. Finally, Royal Bank Of Canada boosted their price objective on Iamgold Corp. from $2.25 to $2.75 in a research report on Tuesday, April 12th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $2.79.
The stock has a 50 day moving average price of $4.15 and a 200 day moving average price of $2.86. The company’s market cap is $1.98 billion.
Iamgold Corp. (NYSE:IAG) last issued its quarterly earnings data on Tuesday, May 3rd. The mining company reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.04. The company had revenue of $219.70 million for the quarter, compared to the consensus estimate of $224.24 million. During the same quarter last year, the business earned ($0.07) earnings per share. Iamgold Corp.’s revenue was down 10.2% compared to the same quarter last year. On average, equities analysts forecast that Iamgold Corp. will post ($0.03) earnings per share for the current year.
A hedge fund recently raised its stake in Iamgold Corp. stock. Bank of Montreal Can raised its position in Iamgold Corp. (NYSE:IAG) by 45.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,709,330 shares of the mining company’s stock after buying an additional 1,164,286 shares during the period. Bank of Montreal Can owned about 0.95% of Iamgold Corp. worth $5,267,000 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.