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

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Wednesday.

Several other analysts have also issued reports on the company. Royal Bank of Canada reiterated a "sector perform" rating and set a $6.00 price objective on shares of IAMGOLD in a report on Tuesday, October 22nd. Cibc World Mkts raised 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 in a report on Tuesday, October 22nd. National Bank Financial raised shares of IAMGOLD from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 10th. Finally, Canaccord Genuity Group raised shares of IAMGOLD from a "hold" rating to a "buy" rating and boosted their target price for the stock from $7.75 to $10.50 in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $6.57.

IAMGOLD Stock Down 4.0 %

IAG traded down $0.22 on Wednesday, reaching $5.34. 15,269,924 shares of the company traded hands, compared to its average volume of 11,605,867. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 4.17 and a beta of 1.56. 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 50 day moving average price is $5.38 and its 200-day moving average price is $5.01. IAMGOLD has a 52-week low of $2.23 and a 52-week high of $6.37.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Van ECK Associates Corp increased its stake in IAMGOLD by 8.8% during the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company's stock valued at $276,639,000 after acquiring an additional 4,267,084 shares during the period. Two Sigma Advisers LP raised its stake 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 purchasing an additional 3,732,315 shares in the last quarter. FMR LLC lifted its holdings in shares of IAMGOLD by 107.9% during the 3rd quarter. FMR LLC now owns 8,819,600 shares of the mining company's stock worth $46,174,000 after acquiring an additional 4,577,599 shares during the period. Millennium Management LLC lifted its stake 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 during the period. Finally, American Century Companies Inc. lifted 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 buying an additional 1,270,608 shares during the period. Institutional investors and hedge funds own 47.08% of the company's stock.

IAMGOLD Company Profile

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.