Iamgold Corporation (IAG) has risen sharply, recording gains of 1.73% in the past 4 weeks. However, the stock has corrected -6% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 1.34% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
IAMGOLD Corp. is up 29.83% in the last 3-month period. Year-to-Date the stock performance stands at 230.99%. The stock has recorded a 20-day Moving Average of 7.29% and the 50-Day Moving Average is 1.56%.
Iamgold Corporation (NYSE:IAG): The stock opened at $4.71 on Friday but the bulls could not build on the opening and the stock topped out at $4.82 for the day. The stock traded down to $4.64 during the day, due to lack of any buying support eventually closed down at $4.70 with a loss of -2.69% for the day. The stock had closed at $4.83 on the previous day. The total traded volume was 14,073,130 shares.
Also, RBC Capital upgrades its view on Iamgold Corporation (NYSE:IAG) according to the research report released by the firm to its investors. The shares have now been rated Sector Perform by the stock experts at the ratings house. Earlier, the shares had a rating of Sector Underperform. The rating by the firm was issued on August 8, 2016.
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.