IAMGOLD (NYSE:IAG) Downgraded to Hold Rating by StockNews.com

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

Several other research analysts have also recently weighed in on IAG. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $6.00 target price on shares of IAMGOLD in a research note on Tuesday, October 22nd. National Bank Financial upgraded shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and boosted their price target for the company from $7.75 to $10.50 in a report on Tuesday, October 22nd. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Finally, Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.68.

IAMGOLD Trading Up 2.0 %

IAMGOLD stock opened at $5.16 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average price of $5.39 and a two-hundred day moving average price of $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. IAMGOLD has a 52-week low of $2.23 and a 52-week high of $6.37.

Institutional Investors Weigh In On IAMGOLD

Several institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its holdings in IAMGOLD by 368.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,521,670 shares of the mining company’s stock worth $7,772,000 after purchasing an additional 1,196,564 shares during the last quarter. Semanteon Capital Management LP acquired a new stake in shares of IAMGOLD in the third quarter worth $503,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of IAMGOLD by 158.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company’s stock worth $24,301,000 after buying an additional 2,839,556 shares during the period. Van ECK Associates Corp grew its stake in IAMGOLD by 8.8% in the 3rd quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock valued at $276,639,000 after buying an additional 4,267,084 shares during the last quarter. Finally, U S Global Investors Inc. raised its holdings in IAMGOLD by 241.6% in the 3rd quarter. U S Global Investors Inc. now owns 854,114 shares of the mining company’s stock worth $4,467,000 after acquiring an additional 604,114 shares during the period. 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.