Iamgold Corp. (IAG) Trading 5.6% Higher
Shares of Iamgold Corp. (NYSE:IAG) traded up 5.6% on Tuesday . The stock traded as high as $4.69 and last traded at $4.68, with a volume of 10,615,710 shares. The stock had previously closed at $4.43.
Several analysts recently weighed in on the stock. Zacks Investment Research raised shares of Iamgold Corp. from a “hold” rating to a “strong-buy” rating and set a $5.50 price objective on the stock in a research note on Monday, July 18th. Paradigm Capital raised shares of Iamgold Corp. from a “hold” rating to a “buy” rating in a research note on Monday, July 18th. Scotiabank raised shares of Iamgold Corp. from an “underperform” rating to a “sector perform” rating in a research note on Wednesday, July 13th. Credit Suisse Group AG raised shares of Iamgold Corp. from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $3.00 to $5.25 in a research note on Thursday, June 30th. Finally, CIBC raised shares of Iamgold Corp. from a “sector underperform” rating to a “sector perform” rating in a research note on Monday, June 27th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Iamgold Corp. has an average rating of “Hold” and an average price target of $2.79.
The firm’s 50-day moving average is $4.32 and its 200 day moving average is $2.98. The company’s market cap is $1.88 billion.
Iamgold Corp. (NYSE:IAG) last issued its earnings results on Tuesday, May 3rd. The mining company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. The business earned $219.70 million during the quarter, compared to analysts’ expectations of $224.24 million. During the same quarter in the previous year, the business earned ($0.07) EPS. Iamgold Corp.’s revenue for the quarter was down 10.2% compared to the same quarter last year. Equities research analysts forecast that Iamgold Corp. will post ($0.02) EPS for the current fiscal year.
An institutional investor recently raised its position in Iamgold Corp. stock. Russell Frank Co raised its position in Iamgold Corp. (NYSE:IAG) by 285.1% during the fourth quarter, according to its most recent 13F filing 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 0.27% of Iamgold Corp. worth $1,545,000 as of its most recent filing with the SEC.
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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