IAMGOLD (NYSE:IAG) Stock Rating Lowered by StockNews.com

IAMGOLD (NYSE:IAG) (TSE:IMG) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

A number of other equities research analysts also recently weighed in on IAG. Scotiabank upped their target price on IAMGOLD from $4.25 to $4.50 and gave the stock a “sector perform” rating in a research report on Thursday, June 6th. BMO Capital Markets restated an “outperform” rating and issued a $5.00 price objective on shares of IAMGOLD in a report on Thursday, June 6th. Finally, CIBC raised their target price on IAMGOLD from $4.80 to $4.90 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, IAMGOLD currently has an average rating of “Hold” and a consensus target price of $4.02.

IAMGOLD Stock Performance

NYSE:IAG traded up $0.58 during midday trading on Friday, reaching $4.27. 14,391,301 shares of the company traded hands, compared to its average volume of 9,138,720. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 15.23 and a beta of 1.56. The company has a fifty day moving average price of $3.86 and a 200 day moving average price of $3.47. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.91 and a quick ratio of 0.55. IAMGOLD has a twelve month low of $1.99 and a twelve month high of $4.59.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Thursday, May 9th. The mining company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.09. The business had revenue of $338.90 million during the quarter. IAMGOLD had a return on equity of 3.17% and a net margin of 12.48%. During the same quarter in the prior year, the firm posted $0.05 earnings per share. On average, analysts expect that IAMGOLD will post 0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On IAMGOLD

Several hedge funds have recently modified their holdings of IAG. Euro Pacific Asset Management LLC increased its holdings in shares of IAMGOLD by 48.1% during the 4th quarter. Euro Pacific Asset Management LLC now owns 2,727,065 shares of the mining company’s stock worth $6,898,000 after purchasing an additional 885,697 shares during the period. Virtu Financial LLC raised its holdings in IAMGOLD by 1,034.3% in the 1st quarter. Virtu Financial LLC now owns 339,792 shares of the mining company’s stock valued at $1,132,000 after acquiring an additional 309,836 shares in the last quarter. Norges Bank acquired a new stake in shares of IAMGOLD during the 4th quarter worth approximately $8,642,000. P Schoenfeld Asset Management LP increased its position in shares of IAMGOLD by 11.1% during the fourth quarter. P Schoenfeld Asset Management LP now owns 8,234,284 shares of the mining company’s stock valued at $20,833,000 after purchasing an additional 822,149 shares during the period. Finally, Helikon Investments Ltd raised its stake in shares of IAMGOLD by 250.5% in the first quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock valued at $109,429,000 after purchasing an additional 23,485,183 shares in the last quarter. 47.08% of the stock is owned by institutional investors.

IAMGOLD Company Profile

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.