Iamgold Corp. (IAG) Shares Down 3%
Iamgold Corp. (NYSE:IAG) traded down 3% during mid-day trading on Tuesday . The stock traded as low as $3.87 and last traded at $3.88, with a volume of 4,525,667 shares. The stock had previously closed at $4.00.
Several equities research analysts have recently issued reports on the stock. RBC Capital Markets upgraded shares of Iamgold Corp. from an “underperform” rating to a “sector perform” rating and raised their price target for the stock from $5.50 to $6.50 in a research note on Monday, August 8th. Royal Bank Of Canada raised shares of Iamgold Corp. from an “underperform” rating to a “sector perform” rating and raised their price objective for the stock from $5.50 to $6.50 in a report on Monday, August 8th. Zacks Investment Research raised shares of Iamgold Corp. from a “hold” rating to a “strong-buy” rating and set a $5.50 price objective for the company in a report on Monday, July 18th. Credit Suisse Group AG initiated coverage on shares of Iamgold Corp. in a report on Thursday, August 18th. They issued a “neutral” rating and a $5.25 price objective for the company. Finally, Paradigm Capital raised shares of Iamgold Corp. from a “hold” rating to a “buy” rating in a report on Monday, July 18th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $3.46.
The firm’s market cap is $1.53 billion. The company has a 50 day moving average of $4.76 and a 200-day moving average of $3.56.
Iamgold Corp. (NYSE:IAG) last released 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. The business had revenue of $232.50 million for the quarter, compared to the consensus estimate of $245.68 million. Iamgold Corp.’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.08) EPS. On average, equities research analysts expect that Iamgold Corp. will post $0.04 EPS for the current fiscal year.
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.