StockNews.com Lowers IAMGOLD (NYSE:IAG) to Sell

IAMGOLD (NYSE:IAGGet Free Report) (TSE:IMG) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Several other analysts have also issued reports on the company. National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research note on Monday, April 8th. BMO Capital Markets upped their price objective on shares of IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a report on Friday, April 5th. Finally, CIBC increased their price objective on shares of IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, IAMGOLD presently has a consensus rating of “Hold” and a consensus target price of $3.52.

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IAMGOLD Stock Up 3.4 %

Shares of NYSE IAG opened at $3.66 on Thursday. The stock has a market cap of $1.82 billion, a P/E ratio of 19.26, a P/E/G ratio of 1.23 and a beta of 1.70. The firm has a 50 day moving average price of $3.05 and a 200 day moving average price of $2.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.77 and a current ratio of 1.19. IAMGOLD has a 52-week low of $1.99 and a 52-week high of $3.92.

IAMGOLD (NYSE:IAGGet Free Report) (TSE:IMG) last posted its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. The firm had revenue of $297.60 million during the quarter. Analysts expect that IAMGOLD will post 0.07 EPS for the current year.

Institutional Trading of IAMGOLD

Several large investors have recently made changes to their positions in IAG. Citigroup Inc. acquired a new position in shares of IAMGOLD during the 1st quarter worth $31,000. Vident Advisory LLC bought a new position in shares of IAMGOLD in the fourth quarter worth about $25,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of IAMGOLD in the 4th quarter valued at approximately $26,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of IAMGOLD during the 4th quarter valued at approximately $29,000. Finally, First Trust Advisors LP acquired a new position in IAMGOLD during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

About IAMGOLD

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IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.

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Analyst Recommendations for IAMGOLD (NYSE:IAG)

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