Momentum Stocks in Focus – IAMGOLD Corp (USA) (NYSE:IAG) Integra Lifesciences Holdings Corp(NASDAQ:IART)
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Shares of IAMGOLD Corp (USA) (NYSE:IAG) gained 4.79% to $5.25 on Wednesday. After the market close, a company engaged mainly in the exploration for, and the development and production of, mineral resource properties throughout the world, declared an updated Reserve and Resource estimate for its Rosebel Gold Mine in Suriname. This estimate is calculated as at June 30, 2017.
The stock price floated in a range of $4.98 – 5.27. The stock moved on low volume, traded at a volume of 5,494,326 shares, as compared to its average daily volume of 6.73M shares. The market capitalization for the company is reported at $2.45B.
Highlights (Attributable Basis):
- Proven and probable reserves raised by 80% to 3.5 million ounces.
- Measured and indicated resources raised by 55% to 8.9 million ounces.
- Inferred resources raised by 322% to 2.5 million ounces.
- Average reserve grade remains unchanged at 1.0 g/t Au., but now includes dilution.
- Raised reserves extend mine life to 2028.
- Estimates are for the Rosebel concession only.
- Saramacca initial resource estimate predictable September 2017.
Integra Lifesciences Holdings Corp(NASDAQ:IART) declined -5.88 points or -10.57% at the market, soon after a medical technology company meets 2Q profit forecasts. The company on Wednesday stated second-quarter profit of $10.8 million. The Plainsboro, New Jersey-based Company said it had net income of 14 cents per share. Earnings, adjusted for one-time gains and costs, were 45 cents per share.
The results matched Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was also for earnings of 45 cents per share. The medical device maker posted revenue of $282.2 million in the period, which did not meet Street forecasts. Seven analysts surveyed by Zacks predictable $282.9 million.
Integra anticipates full-year earnings in the range of $1.88 to $1.94 per share, with revenue in the range of $1.13 billion to $1.14 billion.
The stock opened at $53.03. It reached an intraday trading high of $53.07 and closed at $49.74. The total volume traded for the day is 2,874,287, as compared to its average daily volume of 552.55K shares. The current EPS for the company has been recorded at $0.84 and the beta value recorded by the company stands at 0.75 points.