Iamgold Corporation (IAG): Price Target and June Short Interest Disclosure

Iamgold Corporation (IAG) : The highest level Iamgold Corporation (IAG) is projected to reach is $4 for the short term and the lowest estimate is at $2. The consolidated price target from 5 rating analysts who initiate coverage on the stock is $2.89 and the possibility the share price can swing is $0.97.

Iamgold Corporation (IAG) stated loss of 605,737 shares or 6.8% in the short interest. The short interest registered from 8,921,701 on June 15,2016 to 8,315,964 on June 30,2016. In terms of floated shares, the shorted positions stood at 2.1%. The stock has been averaging 12,832,009 shares daily in trading and would need 1 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, In the latest statement by the brokerage house, Credit Suisse upgrades its outlook on Iamgold Corporation (NYSE:IAG). The current rating of the shares is Neutral, according to the research report released by the firm. Previously, the company had a rating of Underperform. The rating by the firm was issued on June 30, 2016.


Iamgold Corporation (NYSE:IAG): On Thursdays trading session , Opening price of the stock was $4.69 with an intraday high of $4.84. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $4.585. However, the stock managed to close at $4.78, a loss of 0.42% for the day. On the previous day, the stock had closed at $4.8. The total traded volume of the day was 9,954,659 shares.

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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