Iamgold Corp. (IAG) Trading Down 3.1%
Shares of Iamgold Corp. (NYSE:IAG) dropped 3.1% on Friday . The stock traded as low as $5.40 and last traded at $5.57, with a volume of 6,886,206 shares trading hands. The stock had previously closed at $5.75.
IAG has been the topic of several research analyst reports. Paradigm Capital upgraded Iamgold Corp. from a “hold” rating to a “buy” rating in a research note on Monday, July 18th. Credit Suisse Group AG upgraded Iamgold Corp. from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $3.00 to $5.25 in a research note on Thursday, June 30th. Zacks Investment Research upgraded Iamgold Corp. from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a research note on Wednesday, April 20th. Scotiabank upgraded Iamgold Corp. from an “underperform” rating to a “sector perform” rating in a research note on Wednesday, July 13th. Finally, CIBC upgraded Iamgold Corp. from a “sector underperform” rating to a “sector perform” rating in a research note on Monday, June 27th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $2.79.
The stock’s market capitalization is $2.25 billion. The company’s 50-day moving average price is $4.65 and its 200 day moving average price is $3.17.
Iamgold Corp. (NYSE:IAG) last posted its earnings results on Wednesday, August 3rd. The mining company reported $0.01 EPS for the quarter, topping the Zacks’ 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. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.08) EPS.
An institutional investor recently raised its position in Iamgold Corp. stock. Russell Frank Co boosted 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 institutional investor 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.
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