Iamgold Corporation (IAG) : Analyst Rating Update

Iamgold Corporation (IAG) : The consensus on Iamgold Corporation (IAG) based on 6 analyst recommendation on the company stock is 3.83, which is interpreted as a Sell recommendation. Zacks Investment Research has issued a rank of 2 which endorses a Buy on the stock. However, 3 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 2 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock. 1 analyst also believes that the downside risk to the stock is higher and suggests a Sell on Iamgold Corporation (IAG).

Iamgold Corporation (IAG) has been rated by 6 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $4 and the lowest price target forecast is $2. The average forecast of all the analysts is $2.71 and the expected standard deviation is $0.88.

Iamgold Corporation (NYSE:IAG): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $4.73 and $4.61 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $4.82. The buying momentum continued till the end and the stock did not give up its gains. It closed at $4.73, notching a gain of 2.60% for the day. The total traded volume was 11,576,920 . The stock had closed at $4.61 on the previous day.

Also, Major Brokerage house, Credit Suisse upgrades its ratings on Iamgold Corporation (NYSE:IAG). According to the latest information available, the shares are now rated Neutral by the analysts at the agency. Previously, the analysts had a Underperform rating on the shares. The rating by the firm was issued on June 30, 2016. The company shares have rallied 145.21% from its 1 Year high price. On Jul 5, 2016, the shares registered one year high at $4.68 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $3.82 and the 200 Day Moving Average price is recorded at $2.65.

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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