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

StockNews.com upgraded shares of IAMGOLD (NYSE:IAG) (TSE:IMG) from a sell rating to a hold rating in a research note published on Tuesday morning.

A number of other equities analysts have also issued reports on the company. BMO Capital Markets reissued an outperform rating and set a $5.00 price target on shares of IAMGOLD in a report on Thursday, June 6th. Scotiabank increased their price target on shares of IAMGOLD from $4.25 to $4.50 and gave the company a sector perform rating in a report on Thursday, June 6th. CIBC reduced their price objective on IAMGOLD from $5.00 to $4.80 and set a neutral rating for the company in a report on Friday, June 7th. Finally, National Bank Financial restated a sector perform spec overwgt rating on shares of IAMGOLD in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, IAMGOLD presently has a consensus rating of Hold and a consensus price target of $4.02.

IAMGOLD Price Performance

IAMGOLD stock opened at $4.23 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.55 and a current ratio of 0.91. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 15.11 and a beta of 1.56. The company’s 50 day simple moving average is $3.91 and its 200-day simple moving average is $3.26. IAMGOLD has a 1 year low of $1.99 and a 1 year high of $4.59.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Thursday, May 9th. The mining company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.09. IAMGOLD had a return on equity of 3.17% and a net margin of 12.48%. The business had revenue of $338.90 million during the quarter. During the same period in the prior year, the company posted $0.05 earnings per share. As a group, equities research analysts expect that IAMGOLD will post 0.28 earnings per share for the current year.

Hedge Funds Weigh In On IAMGOLD

Several hedge funds and other institutional investors have recently modified their holdings of the company. Qube Research & Technologies Ltd grew its stake in IAMGOLD by 54.5% during the third quarter. Qube Research & Technologies Ltd now owns 976,698 shares of the mining company’s stock worth $2,100,000 after buying an additional 344,691 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of IAMGOLD by 0.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 987,468 shares of the mining company’s stock valued at $2,140,000 after buying an additional 8,485 shares during the period. Vanguard Group Inc. lifted its position in IAMGOLD by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 17,375,017 shares of the mining company’s stock worth $37,356,000 after acquiring an additional 363,051 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in IAMGOLD in the fourth quarter valued at $26,000. Finally, Koshinski Asset Management Inc. bought a new position in shares of IAMGOLD during the fourth quarter worth about $34,000. 47.08% of the stock is owned by institutional investors and hedge funds.

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.