Price Target Update on Iamgold Corporation (NYSE:IAG)

Iamgold Corporation (NYSE:IAG) has been rated by 6 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $3 and the lowest price target forecast is $2. The average forecast of all the analysts is $2.46 and the expected standard deviation is $0.61.

Other Equity analysts have also commented on the company shares. Scotia Howard Weil downgrades 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 Underperform by the stock experts at the ratings house. Earlier, the shares had a rating of Sector Perform. The rating by the firm was issued on May 18, 2016.

Iamgold Corporation (NYSE:IAG): stock turned positive on Thursday. Though the stock opened at $3.93, the bulls momentum made the stock top out at $4.04 level for the day. The stock recorded a low of $3.895 and closed the trading day at $4.01, in the green by 0.75%. The total traded volume for the day was 9,801,406. The stock had closed at $3.98 in the previous days trading.

The company shares have rallied 76.89% from its 1 Year high price. On Jun 16, 2016, the shares registered one year high at $4.14 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $3.66 and the 200 Day Moving Average price is recorded at $2.46.

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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