IAMGOLD (NYSE:IAG) Hits New 1-Year Low Following Analyst Downgrade

IAMGOLD Co. (NYSE:IAGGet Rating) (TSE:IMG)’s share price reached a new 52-week low during trading on Friday after BMO Capital Markets lowered their price target on the stock from $2.75 to $2.00. BMO Capital Markets currently has a market perform rating on the stock. IAMGOLD traded as low as $1.30 and last traded at $1.31, with a volume of 656048 shares. The stock had previously closed at $1.49.

Several other analysts have also commented on the company. TD Securities dropped their price objective on IAMGOLD from C$6.50 to C$5.00 in a report on Thursday, May 5th. StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a report on Wednesday, May 11th. Royal Bank of Canada lowered IAMGOLD from a “sector perform” rating to an “underperform” rating and set a $2.00 price objective on the stock. in a report on Wednesday, April 20th. Raymond James lowered IAMGOLD from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $3.00 to $2.25 in a research note on Wednesday, May 4th. Finally, Credit Suisse Group lowered IAMGOLD from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $3.50 to $2.50 in a research note on Wednesday, May 4th. Six research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $2.91.

Hedge Funds Weigh In On IAMGOLD

A number of institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. purchased a new stake in IAMGOLD in the first quarter valued at $31,000. Perfromance Wealth Partners LLC purchased a new stake in IAMGOLD in the first quarter valued at $37,000. First Trust Advisors LP purchased a new stake in IAMGOLD in the first quarter valued at $40,000. Private Advisor Group LLC purchased a new stake in shares of IAMGOLD in the 1st quarter valued at $41,000. Finally, Aigen Investment Management LP purchased a new stake in shares of IAMGOLD in the 1st quarter valued at $51,000. Hedge funds and other institutional investors own 49.21% of the company’s stock.

IAMGOLD Price Performance

The company has a current ratio of 1.57, a quick ratio of 1.07 and a debt-to-equity ratio of 0.19. The stock has a market cap of $622.65 million, a PE ratio of -2.41, a P/E/G ratio of 7.12 and a beta of 1.24. The company has a fifty day moving average of $1.75 and a 200-day moving average of $2.52.

IAMGOLD (NYSE:IAGGet Rating) (TSE:IMG) last posted its quarterly earnings data on Tuesday, May 3rd. The mining company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The firm had revenue of $356.60 million for the quarter. IAMGOLD had a positive return on equity of 1.83% and a negative net margin of 19.95%. Sell-side analysts expect that IAMGOLD Co. will post 0.07 EPS for the current fiscal year.

About IAMGOLD

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IAMGOLD Corporation, through its subsidiaries, explores, develops, and operates gold mining properties in North America, South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine situated in Burkina Faso and Boto gold project located in Senegal, West Africa; and Westwood mine, covers an area of 1,925 hectare and located in Quebec and the Côté gold project, which covers an area of 586 square kilometer located in Ontario, Canada.

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