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

IAMGOLD (NYSE:IAG) (TSE:IMG) was downgraded by equities research 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 subject of a number of other reports. CIBC upgraded IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. National Bank Financial upgraded IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating and increased their target price for the stock from $7.75 to $10.50 in a research report on Tuesday, October 22nd. Raymond James cut their target price on IAMGOLD from $6.50 to $6.00 and set an “underperform” rating on the stock in a research note on Wednesday, January 15th. Finally, Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, IAMGOLD presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.57.

IAMGOLD Price Performance

Shares of IAG opened at $6.29 on Wednesday. IAMGOLD has a 52 week low of $2.32 and a 52 week high of $6.37. 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 firm has a market cap of $3.59 billion, a price-to-earnings ratio of 4.91 and a beta of 1.56. The stock has a 50 day moving average of $5.49 and a 200-day moving average of $5.14.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Thursday, November 7th. The mining company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. IAMGOLD had a net margin of 49.56% and a return on equity of 10.01%. The firm had revenue of $438.90 million during the quarter. During the same period in the prior year, the firm earned ($0.01) EPS. As a group, analysts forecast that IAMGOLD will post 0.58 EPS for the current year.

Institutional Investors Weigh In On IAMGOLD

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp grew its position 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 in the last quarter. Two Sigma Advisers LP boosted its holdings in shares of IAMGOLD by 58.8% in the third quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company’s stock valued at $52,735,000 after acquiring an additional 3,732,315 shares in the last quarter. FMR LLC increased its stake in shares of IAMGOLD by 107.9% during the third quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock valued at $46,174,000 after acquiring an additional 4,577,599 shares during the period. Millennium Management LLC raised its holdings in IAMGOLD by 194.2% during the second quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company’s stock worth $29,573,000 after purchasing an additional 5,204,715 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in IAMGOLD by 18.8% in the second 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 during the period. 47.08% of the stock is currently owned by institutional investors.

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.