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

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

Other equities analysts have also recently issued research reports about the company. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating and raised their target price for the stock from $7.75 to $10.50 in a research report on Tuesday, October 22nd. National Bank Financial raised shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Finally, CIBC raised shares of 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, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $6.68.

IAMGOLD Stock Performance

Shares of NYSE:IAG traded up $0.10 on Wednesday, hitting $5.16. 5,103,748 shares of the company were exchanged, compared to its average volume of 8,756,558. The company’s 50 day moving average price is $5.39 and its two-hundred day moving average price is $4.89. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 4.03 and a beta of 1.56. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. IAMGOLD has a one year low of $2.23 and a one year high of $6.37.

Institutional Investors Weigh In On IAMGOLD

Institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of IAMGOLD in the 2nd quarter worth approximately $183,000. Banque Cantonale Vaudoise acquired a new position in IAMGOLD in the second quarter worth $56,000. CIBC Asset Management Inc grew its holdings in shares of IAMGOLD by 28.1% during the second quarter. CIBC Asset Management Inc now owns 680,499 shares of the mining company’s stock worth $2,555,000 after purchasing an additional 149,433 shares during the last quarter. TIAA Trust National Association acquired a new stake in shares of IAMGOLD in the second quarter valued at $38,000. Finally, TD Asset Management Inc raised its holdings in shares of IAMGOLD by 14.3% in the second quarter. TD Asset Management Inc now owns 1,431,397 shares of the mining company’s stock valued at $5,377,000 after buying an additional 178,548 shares during 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.