Brokerage Firm Rating Update on Iamgold Corporation (IAG)

Iamgold Corporation (IAG) : The consensus on Iamgold Corporation (IAG) based on 5 analyst recommendation on the company stock is 3, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 2 which endorses a Buy on the stock. However, 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 3 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst also believes that the downside risk to the stock is higher and suggests a Sell on Iamgold Corporation (IAG).

Iamgold Corporation (IAG) stock is expected to deviate a maximum of $1.89 from the average target price of $5.01 for the short term period. 6 Street Experts have initiated coverage on the stock with the most promising target being $7 and the most muted being $2.


Company shares have received an average consensus rating of Hold for the current week Also, RBC Capital upgrades its rating on Iamgold Corporation (NYSE:IAG). Analysts at the RBC Capital have a current rating of Sector Perform on the shares. The shares were previously rated Sector Underperform. The rating by the firm was issued on August 8, 2016.

Iamgold Corporation (NYSE:IAG): stock was range-bound between the intraday low of $4.12 and the intraday high of $4.35 after having opened at $4.34 on Wednesdays session. The stock finally closed in the red at $4.34, a loss of -1.16%. The stock remained in the red for the whole trading day. The total traded volume was 10,831,466 shares. The stock failed to cross $4.35 in Wednesdays trading. The stocks closing price on Thursday was $4.32.

IAMGOLD Corporation (IAMGOLD) is a mid-tier mining company with four operating gold mines on three continents. The Company mines include Rosebel Gold Mine, Essakane Gold Mine, Sadiola Gold Mine and Yatela Gold Mine. IAMGOLD operates in West Africa, the Guiana Shield of South America and Quebec and has a pipeline of development and exploration projects. The Company holds 95% ownership in the Rosebel Gold Mine, which is located in the Suriname, South America. The Companys 90% owned Essakane Gold Mine mine is located in the Burkina Faso, West Africa. The Company holds 40% interest in the Sadiola Gold Mine, which is located in the Mali, North Western Africa. It also holds 40% interest in the Yatela Gold Mine, which is located in the Mali, North Western Africa. The Company also holds Greenfield exploration projects, which include the Boto Gold Project, the Siribaya exploration project and the Monster Lake project.

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