Short Term Price Target on Iamgold Corporation (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 $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.

Shares of IAMGOLD Corp. rose by 3.24% in the last five trading days and 26.22% for the last 4 weeks. IAMGOLD Corp. is up 83.19% in the last 3-month period. Year-to-Date the stock performance stands at 191.55%. Also, In the latest statement by the brokerage house, Scotia Howard Weil downgrades its outlook on Iamgold Corporation (NYSE:IAG). The current rating of the shares is Underperform, according to the research report released by the firm. Previously, the company had a rating of Sector Perform. The rating by the firm was issued on May 18, 2016.

Iamgold Corporation (NYSE:IAG) : 6 analysts are covering Iamgold Corporation (NYSE:IAG) and their average rating on the stock is 3.83, which is read as a Sell. A Zacks Investment Research rank of 2, which recommends a Buy affirms that they expect a large upside in the stock from the current levels. However, 2 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. 1 more analyst has given the stock a Sell recommendation. A total of 3 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Iamgold Corporation (NYSE:IAG): The stock opened at $4.27 on Thursday but the bulls could not build on the opening and the stock topped out at $4.32 for the day. The stock traded down to $4.12 during the day, due to lack of any buying support eventually closed down at $4.14 with a loss of -1.19% for the day. The stock had closed at $4.19 on the previous day. The total traded volume was 12,583,516 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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