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

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

IAG has been the topic of several other reports. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and lifted their price target for the stock from $7.75 to $10.50 in a research note on Tuesday, October 22nd. Royal Bank of Canada restated a “sector perform” rating and set a $6.00 price objective on shares of IAMGOLD in a research note on Tuesday, October 22nd. Finally, CIBC upgraded IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, IAMGOLD presently has an average rating of “Moderate Buy” and an average price target of $6.57.

IAMGOLD Stock Down 0.2 %

NYSE:IAG traded down $0.02 on Wednesday, reaching $5.99. The stock had a trading volume of 12,026,284 shares, compared to its average volume of 11,876,221. IAMGOLD has a 12-month low of $2.32 and a 12-month high of $6.37. The stock has a market cap of $3.42 billion, a P/E 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. The company has a 50-day moving average of $5.48 and a 200 day moving average of $5.13.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Thursday, November 7th. The mining company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. IAMGOLD had a return on equity of 10.01% and a net margin of 49.56%. The firm had revenue of $438.90 million during the quarter. During the same period in the prior year, the company posted ($0.01) EPS. On average, research analysts predict that IAMGOLD will post 0.58 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IAG. Tobam acquired a new stake in IAMGOLD in the fourth quarter worth $25,000. Blue Trust Inc. increased its holdings in shares of IAMGOLD by 157.1% in 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. ORG Partners LLC bought a new stake in IAMGOLD in the 3rd quarter valued at about $29,000. Eastern Bank acquired a new position in IAMGOLD during the 3rd quarter valued at about $30,000. Finally, Aigen Investment Management LP grew its position 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 purchasing an additional 6,704 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.