IAMGOLD (NYSE:IAG) Cut to “Hold” at StockNews.com

StockNews.com cut shares of IAMGOLD (NYSE:IAG) (TSE:IMG) from a buy rating to a hold rating in a report issued on Wednesday morning.

IAG has been the subject of several other research reports. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating and upped their target price for the stock from $7.75 to $10.50 in a report on Tuesday, October 22nd. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $6.00 price objective on shares of IAMGOLD in a report on Tuesday, October 22nd. National Bank Financial upgraded shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Finally, Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $6.68.

IAMGOLD Trading Down 1.3 %

Shares of IAMGOLD stock opened at $5.51 on Wednesday. The stock has a market capitalization of $3.15 billion, a PE ratio of 4.30 and a beta of 1.56. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. The company’s fifty day simple moving average is $5.38 and its 200-day simple moving average is $4.91. IAMGOLD has a 1-year low of $2.23 and a 1-year high of $6.37.

Institutional Trading of IAMGOLD

A number of hedge funds have recently added to or reduced their stakes in the business. ORG Partners LLC purchased a new stake in shares of IAMGOLD during the 3rd quarter worth $29,000. Eastern Bank bought a new position in shares of IAMGOLD during the 3rd quarter worth approximately $30,000. TIAA Trust National Association bought a new position in shares of IAMGOLD during the 2nd quarter worth approximately $38,000. WINTON GROUP Ltd purchased a new stake in IAMGOLD during the second quarter valued at approximately $52,000. Finally, Banque Cantonale Vaudoise acquired a new position in shares of IAMGOLD during the second quarter worth $56,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

About IAMGOLD

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.