Iamgold (IMG) Reaches New 1-Year Low on Analyst Downgrade
Iamgold Corp (TSE:IMG) (NYSE:IAG) shares reached a new 52-week low during mid-day trading on Tuesday after National Bank Financial lowered their price target on the stock from C$9.25 to C$8.00. National Bank Financial currently has an outperform rating on the stock. Iamgold traded as low as C$3.87 and last traded at C$4.04, with a volume of 670943 shares changing hands. The stock had previously closed at C$4.00.
A number of other research analysts have also issued reports on IMG. Canaccord Genuity lowered their target price on shares of Iamgold from C$11.50 to C$10.50 in a research note on Tuesday, July 24th. CSFB reiterated a “neutral” rating on shares of Iamgold in a research note on Wednesday, September 26th. Finally, TD Securities lowered their target price on shares of Iamgold from C$10.50 to C$10.00 and set a “buy” rating on the stock in a research note on Thursday, November 8th.
In other news, Director Ronald Peter Gagel bought 10,000 shares of the stock in a transaction that occurred on Thursday, September 27th. The shares were acquired at an average cost of C$4.90 per share, for a total transaction of C$49,000.00.
About Iamgold (TSE:IMG)
IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. It also explores for copper and silver. The company owns interests in the Rosebel gold mine located in north eastern Suriname, South America; the Essakane gold mine in north-eastern Burkina Faso, West Africa; the Westwood gold mine in southwestern Québec, Canada; and the Sadiola Gold Mine located in southwest Mali, West Africa.
Read More: Price to Earnings Ratio (PE)
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