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

IAMGOLD (NYSE:IAG) (TSE:IMG) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

Other equities analysts have also recently issued research reports about the company. CIBC lowered their target price on IAMGOLD from $5.00 to $4.80 and set a “neutral” rating for the company in a report on Friday, June 7th. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. BMO Capital Markets restated an “outperform” rating and issued a $5.00 price target on shares of IAMGOLD in a research report on Thursday, June 6th. Finally, Scotiabank boosted their price objective on shares of IAMGOLD from $4.25 to $4.50 and gave the stock a “sector perform” rating in a research note on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.01.

IAMGOLD Price Performance

Shares of IAG stock opened at $3.68 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.91 and a debt-to-equity ratio of 0.35. The company has a market cap of $2.09 billion, a P/E ratio of 13.13 and a beta of 1.56. IAMGOLD has a twelve month low of $1.99 and a twelve month high of $4.59. The business has a fifty day simple moving average of $3.87 and a 200 day simple moving average of $3.20.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Thursday, May 9th. The mining company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.09. The business had revenue of $338.90 million during the quarter. IAMGOLD had a net margin of 12.48% and a return on equity of 3.17%. During the same quarter in the prior year, the company earned $0.05 earnings per share. On average, sell-side analysts forecast that IAMGOLD will post 0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp lifted its stake in shares of IAMGOLD by 8.2% in the first quarter. Van ECK Associates Corp now owns 52,053,035 shares of the mining company’s stock valued at $173,340,000 after buying an additional 3,935,250 shares in the last quarter. Donald Smith & CO. Inc. boosted its stake in IAMGOLD by 0.8% during the 1st quarter. Donald Smith & CO. Inc. now owns 36,077,268 shares of the mining company’s stock valued at $120,137,000 after purchasing an additional 298,959 shares during the last quarter. Helikon Investments Ltd boosted its position in shares of IAMGOLD by 250.5% during the first quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock valued at $109,429,000 after buying an additional 23,485,183 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of IAMGOLD by 1.0% in the first quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock valued at $58,871,000 after purchasing an additional 168,302 shares during the last quarter. Finally, Polunin Capital Partners Ltd lifted its position in shares of IAMGOLD by 12.1% during the 1st quarter. Polunin Capital Partners Ltd now owns 8,995,059 shares of the mining company’s stock worth $29,954,000 after buying an additional 968,104 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.