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

IAMGOLD (NYSE:IAGGet Free Report) (TSE:IMG) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $6.00 target price on shares of IAMGOLD in a research report on Tuesday, October 22nd. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $7.75 to $10.50 in a report on Tuesday, October 22nd. Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. National Bank Financial raised shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Finally, Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.57.

Check Out Our Latest Analysis on IAG

IAMGOLD Stock Performance

Shares of IAG opened at $6.29 on Wednesday. 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 firm’s 50 day moving average is $5.49 and its 200-day moving average is $5.14. IAMGOLD has a 12-month low of $2.32 and a 12-month high of $6.37. The stock has a market capitalization of $3.59 billion, a P/E ratio of 4.91 and a beta of 1.56.

IAMGOLD (NYSE:IAGGet Free Report) (TSE:IMG) last posted its quarterly earnings results on Thursday, November 7th. The mining company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.07. The firm had revenue of $438.90 million for the quarter. IAMGOLD had a net margin of 49.56% and a return on equity of 10.01%. During the same quarter last year, the firm posted ($0.01) EPS. Equities research analysts anticipate that IAMGOLD will post 0.58 EPS for the current fiscal year.

Institutional Trading of IAMGOLD

Several institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its position in IAMGOLD by 368.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,521,670 shares of the mining company’s stock worth $7,772,000 after buying an additional 1,196,564 shares in the last quarter. Semanteon Capital Management LP purchased a new stake in shares of IAMGOLD during the third quarter worth $503,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in IAMGOLD by 158.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company’s stock valued at $24,301,000 after purchasing an additional 2,839,556 shares during the last quarter. Van ECK Associates Corp grew its stake in IAMGOLD by 8.8% in the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock valued at $276,639,000 after purchasing an additional 4,267,084 shares in the last quarter. Finally, U S Global Investors Inc. grew its stake in IAMGOLD by 241.6% in the third quarter. U S Global Investors Inc. now owns 854,114 shares of the mining company’s stock valued at $4,467,000 after purchasing an additional 604,114 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

IAMGOLD Company Profile

(Get Free Report)

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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