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

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

Several other equities analysts have also recently commented on the company. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research 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. 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. CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. Finally, Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and increased their price objective for the company from $7.75 to $10.50 in a research report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, IAMGOLD has a consensus rating of “Moderate Buy” and an average price target of $6.68.

IAMGOLD Stock Performance

Shares of IAG stock opened at $5.58 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 4.36 and a beta of 1.56. IAMGOLD has a 52 week low of $2.23 and a 52 week high of $6.37. The firm’s 50-day simple moving average is $5.38 and its two-hundred day simple moving average is $5.01.

Institutional Trading of IAMGOLD

Several institutional investors and hedge funds have recently bought and sold shares of the stock. ORG Partners LLC purchased a new position in shares of IAMGOLD during the third quarter valued at approximately $29,000. Eastern Bank purchased a new stake in shares of IAMGOLD in the third quarter worth $30,000. Aigen Investment Management LP increased its holdings in shares of IAMGOLD by 10.6% during the third quarter. Aigen Investment Management LP now owns 70,244 shares of the mining company’s stock valued at $368,000 after acquiring an additional 6,704 shares in the last quarter. Geode Capital Management LLC raised its position in shares of IAMGOLD by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company’s stock worth $1,392,000 after purchasing an additional 6,874 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in IAMGOLD by 3.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company’s stock worth $1,154,000 after purchasing an additional 8,972 shares in the last quarter. 47.08% of the stock is currently owned by hedge funds and other 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.