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

StockNews.com upgraded shares of IAMGOLD (NYSE:IAG) (TSE:IMG) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

Other analysts also recently issued research reports about the stock. National Bank Financial reissued a sector perform spec overwgt rating on shares of IAMGOLD in a research report on Monday, April 8th. Scotiabank upped their target price on shares of IAMGOLD from $3.25 to $3.75 and gave the company a sector perform rating in a research note on Thursday, April 18th. CIBC boosted their price objective on IAMGOLD from $3.00 to $3.10 and gave the company a neutral rating in a report on Wednesday, February 7th. Finally, BMO Capital Markets increased their target price on IAMGOLD from $4.00 to $4.25 and gave the stock an outperform rating in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $3.55.

IAMGOLD Stock Up 0.5 %

Shares of NYSE:IAG opened at $3.80 on Friday. The company has a 50 day moving average of $3.24 and a two-hundred day moving average of $2.73. IAMGOLD has a 52-week low of $1.99 and a 52-week high of $3.92. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 0.68 and a beta of 1.69.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm had revenue of $297.60 million for the quarter. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. As a group, analysts forecast that IAMGOLD will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IAMGOLD

Several hedge funds and other institutional investors have recently modified their holdings of the company. Polunin Capital Partners Ltd boosted its stake in IAMGOLD by 12.1% during the 1st quarter. Polunin Capital Partners Ltd now owns 8,995,059 shares of the mining company’s stock valued at $29,954,000 after purchasing an additional 968,104 shares during the period. Helikon Investments Ltd grew its holdings in IAMGOLD by 250.5% in the 1st quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock worth $109,429,000 after buying an additional 23,485,183 shares in the last quarter. P Schoenfeld Asset Management LP increased its position in IAMGOLD by 11.1% in the 4th quarter. P Schoenfeld Asset Management LP now owns 8,234,284 shares of the mining company’s stock valued at $20,833,000 after acquiring an additional 822,149 shares during the period. CIBC Asset Management Inc boosted its position in IAMGOLD by 3.4% during the 4th quarter. CIBC Asset Management Inc now owns 449,918 shares of the mining company’s stock worth $1,138,000 after acquiring an additional 14,620 shares during the period. Finally, TD Asset Management Inc grew its stake in shares of IAMGOLD by 2.8% in the fourth quarter. TD Asset Management Inc now owns 1,237,660 shares of the mining company’s stock worth $3,135,000 after purchasing an additional 33,959 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.