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

IAMGOLD (NYSE:IAG) (TSE:IMG) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

A number of other equities research analysts have also recently weighed in on IAG. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $6.00 target price on shares of IAMGOLD in a report on Tuesday, October 22nd. CIBC upgraded shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Canaccord Genuity Group raised 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 report on Tuesday, October 22nd. Three 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.68.

IAMGOLD Stock Performance

Shares of NYSE IAG opened at $5.58 on Wednesday. The stock has a market capitalization of $3.19 billion, a PE ratio of 4.36 and a beta of 1.56. IAMGOLD has a 52 week low of $2.23 and a 52 week high of $6.37. The stock has a 50 day moving average price of $5.38 and a 200 day moving average price of $5.01. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89.

Hedge Funds Weigh In On IAMGOLD

Several institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its position in shares of IAMGOLD by 28.6% during the 2nd quarter. American Century Companies Inc. now owns 5,708,298 shares of the mining company’s stock worth $21,423,000 after purchasing an additional 1,270,608 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of IAMGOLD during the second quarter worth approximately $52,000. Dimensional Fund Advisors LP lifted its holdings in shares of IAMGOLD by 18.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,663,676 shares of the mining company’s stock worth $21,239,000 after purchasing an additional 898,077 shares in the last quarter. XTX Topco Ltd acquired a new stake in IAMGOLD in the 2nd quarter valued at $241,000. Finally, Marshall Wace LLP acquired a new position in IAMGOLD during the second quarter worth $592,000. 47.08% of the stock is owned by institutional investors and hedge funds.

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.