StockNews.com Downgrades IAMGOLD (NYSE:IAG) to Hold

StockNews.com cut shares of IAMGOLD (NYSE:IAG) (TSE:IMG) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Other equities analysts have also recently issued research reports about the stock. CIBC raised shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Raymond James decreased their price objective on shares of IAMGOLD from $6.50 to $6.00 and set an “underperform” rating for the company in a report on Wednesday, January 15th. Finally, National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, IAMGOLD presently has an average rating of “Moderate Buy” and an average price target of $6.57.

IAMGOLD Stock Down 0.2 %

Shares of IAMGOLD stock opened at $5.99 on Wednesday. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 4.68 and a beta of 1.56. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. IAMGOLD has a twelve month low of $2.32 and a twelve month high of $6.37. The company has a fifty day moving average price of $5.48 and a 200 day moving average price of $5.13.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data 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 for the quarter. IAMGOLD had a return on equity of 10.01% and a net margin of 49.56%. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. Equities research analysts forecast that IAMGOLD will post 0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IAMGOLD

Hedge funds have recently added to or reduced their stakes in the stock. Tobam acquired a new stake in shares of IAMGOLD during the fourth quarter worth $25,000. Blue Trust Inc. grew its position in IAMGOLD by 157.1% during the fourth quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock valued at $47,000 after buying an additional 5,511 shares during the period. ORG Partners LLC bought a new stake in IAMGOLD in the 3rd quarter valued at about $29,000. Eastern Bank purchased a new position in IAMGOLD during the 3rd quarter valued at about $30,000. Finally, Aigen Investment Management LP increased its stake in IAMGOLD by 10.6% in the 3rd quarter. Aigen Investment Management LP now owns 70,244 shares of the mining company’s stock worth $368,000 after acquiring an additional 6,704 shares during the last quarter. Institutional investors 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.