StockNews.com cut shares of IAMGOLD (NYSE:IAG - Free Report) TSE: IMG from a buy rating to a hold rating in a research note released on Thursday morning.
IAG has been the subject of several other reports. Raymond James upgraded shares of IAMGOLD from a "strong sell" rating to a "hold" rating in a research note on Monday, February 3rd. Cibc World Mkts upgraded IAMGOLD from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 2nd. Finally, CIBC raised shares of IAMGOLD from a "neutral" rating to a "sector outperform" rating in a report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, IAMGOLD presently has a consensus rating of "Moderate Buy" and an average target price of $6.57.
Check Out Our Latest Stock Analysis on IAMGOLD
IAMGOLD Price Performance
IAMGOLD stock traded up $0.01 during trading hours on Thursday, hitting $5.53. The stock had a trading volume of 10,523,698 shares, compared to its average volume of 12,110,063. IAMGOLD has a 1-year low of $2.75 and a 1-year high of $6.69. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. The stock's fifty day moving average is $5.81 and its two-hundred day moving average is $5.47. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 3.81 and a beta of 1.56.
IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last issued its quarterly earnings data on Thursday, February 20th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.05). IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The company had revenue of $469.90 million during the quarter, compared to analysts' expectations of $498.68 million. As a group, analysts predict that IAMGOLD will post 0.67 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in IAG. Allspring Global Investments Holdings LLC grew its position in IAMGOLD by 27.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,289,000 shares of the mining company's stock worth $6,654,000 after purchasing an additional 277,000 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of IAMGOLD by 368.1% during the third 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in IAMGOLD by 158.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company's stock valued at $24,301,000 after acquiring an additional 2,839,556 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of IAMGOLD by 8.8% in the 3rd quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company's stock worth $276,639,000 after purchasing an additional 4,267,084 shares during the last quarter. Finally, Cibc World Market Inc. boosted its position in shares of IAMGOLD by 54.0% during the fourth quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company's stock worth $26,452,000 after purchasing an additional 1,795,869 shares in the last quarter. 47.08% of the stock is owned by institutional investors.
IAMGOLD Company Profile
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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.
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