Iamgold Corp. (IAG) Stock Price Up 1.6%
Iamgold Corp. (NYSE:IAG) shares rose 1.6% during trading on Wednesday . The stock traded as high as $5.25 and last traded at $5.18, with a volume of 14,563,869 shares traded. The stock had previously closed at $5.10.
IAG has been the subject of several recent analyst reports. Paradigm Capital raised shares of Iamgold Corp. from a “hold” rating to a “buy” rating in a research note on Monday, July 18th. Credit Suisse Group AG raised shares of Iamgold Corp. from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $3.00 to $5.25 in a research note on Thursday, June 30th. Zacks Investment Research raised shares of Iamgold Corp. from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a research note on Wednesday, April 20th. Royal Bank Of Canada raised shares of Iamgold Corp. from an “underperform” rating to a “sector perform” rating and lifted their price objective for the stock from $5.50 to $6.50 in a research note on Monday. Finally, Scotiabank raised shares of Iamgold Corp. from an “underperform” rating to a “sector perform” rating in a research note on Wednesday, July 13th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $3.46.
The stock’s market capitalization is $2.09 billion. The company has a 50-day moving average price of $4.73 and a 200 day moving average price of $3.25.
Iamgold Corp. (NYSE:IAG) last announced its quarterly earnings data on Wednesday, August 3rd. The mining company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.03. During the same period last year, the company posted ($0.08) earnings per share. The firm had revenue of $232.50 million for the quarter, compared to analysts’ expectations of $245.68 million. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts predict that Iamgold Corp. will post $0.05 EPS for the current fiscal year.
A hedge fund recently raised its stake in Iamgold Corp. stock. Russell Frank Co increased its position in shares of Iamgold Corp. (NYSE:IAG) by 285.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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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