Iamgold Corporation (IAG) Sets New 52-Week High at $5.96
Iamgold Corporation (NYSE:IAG) (TSE:IMG) hit a new 52-week high during trading on Wednesday . The company traded as high as $5.96 and last traded at $5.96, with a volume of 7,269,957 shares changing hands. The stock had previously closed at $5.76.
IAG has been the topic of a number of recent research reports. Zacks Investment Research lowered Iamgold Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. ValuEngine upgraded Iamgold Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. Credit Suisse Group upgraded Iamgold Corporation from an “underperform” rating to a “neutral” rating and raised their target price for the company from $4.50 to $5.00 in a report on Wednesday, May 10th. BidaskClub upgraded Iamgold Corporation from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Royal Bank Of Canada set a $6.00 target price on Iamgold Corporation and gave the company a “hold” rating in a report on Thursday, June 8th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Iamgold Corporation currently has an average rating of “Hold” and an average target price of $6.29.
The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 5.428 and a beta of -0.31. The company has a 50 day moving average price of $5.27 and a 200 day moving average price of $4.59.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last posted its earnings results on Wednesday, August 9th. The mining company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The company had revenue of $274.50 million during the quarter, compared to the consensus estimate of $267.07 million. Iamgold Corporation had a net margin of 46.75% and a return on equity of 1.43%. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 earnings per share. Equities research analysts anticipate that Iamgold Corporation will post $0.03 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Nova Scotia increased its position in Iamgold Corporation by 61.7% in the second quarter. Bank of Nova Scotia now owns 1,396,105 shares of the mining company’s stock worth $7,203,000 after buying an additional 532,731 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Iamgold Corporation by 102.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 21,299 shares of the mining company’s stock worth $110,000 after buying an additional 10,773 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new position in Iamgold Corporation during the second quarter worth about $4,103,000. Royal Bank of Canada increased its position in Iamgold Corporation by 496.5% in the second quarter. Royal Bank of Canada now owns 4,484,298 shares of the mining company’s stock worth $23,138,000 after buying an additional 3,732,543 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in Iamgold Corporation during the second quarter worth about $5,434,000. Institutional investors own 57.32% of the company’s stock.
About Iamgold Corporation
IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.