StockNews.com Upgrades IAMGOLD (NYSE:IAG) to Buy

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

Several other research analysts also recently issued reports on IAG. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and upped their price target for the stock from $7.75 to $10.50 in a report on Tuesday, October 22nd. Raymond James upgraded shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, February 3rd. National Bank Financial upgraded shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Finally, CIBC upgraded IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.57.

IAMGOLD Stock Down 0.9 %

NYSE IAG opened at $6.41 on Thursday. The business has a fifty day moving average price of $5.59 and a two-hundred day moving average price of $5.23. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. IAMGOLD has a fifty-two week low of $2.32 and a fifty-two week high of $6.64. The stock has a market capitalization of $3.66 billion, a PE ratio of 5.00 and a beta of 1.56.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced 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 company had revenue of $438.90 million during 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 company posted ($0.01) earnings per share. Equities analysts expect that IAMGOLD will post 0.58 earnings per share for the current fiscal year.

Institutional Trading of IAMGOLD

A number of large investors have recently bought and sold shares of the business. CIBC Asset Management Inc grew its holdings in IAMGOLD by 0.4% during the 4th quarter. CIBC Asset Management Inc now owns 700,955 shares of the mining company’s stock worth $3,615,000 after acquiring an additional 2,848 shares during the period. Bank of New York Mellon Corp grew its holdings in IAMGOLD by 12.7% during the 4th quarter. Bank of New York Mellon Corp now owns 35,046 shares of the mining company’s stock worth $181,000 after acquiring an additional 3,961 shares during the period. Tobam acquired a new stake in IAMGOLD during the 4th quarter worth about $25,000. Blue Trust Inc. grew its holdings in IAMGOLD by 157.1% during the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock worth $47,000 after acquiring an additional 5,511 shares during the period. Finally, ORG Partners LLC acquired a new stake in IAMGOLD during the 3rd quarter worth about $29,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

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.