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

StockNews.com downgraded shares of IAMGOLD (NYSE:IAG - Free Report) TSE: IMG from a buy rating to a hold rating in a research note issued to investors on Wednesday.

Several other analysts also recently commented on the stock. Canaccord Genuity Group upgraded shares of IAMGOLD from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Raymond James dropped their price target on IAMGOLD from $6.50 to $6.00 and set an "underperform" rating on the stock in a report on Wednesday, January 15th. Canaccord Genuity Group raised IAMGOLD from a "hold" rating to a "buy" rating and raised their target price for the company from $7.75 to $10.50 in a research report on Tuesday, October 22nd. CIBC upgraded shares of IAMGOLD from a "neutral" rating to a "sector outperform" rating in a research note on Monday, December 2nd. Finally, National Bank Financial raised shares of IAMGOLD from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $6.57.

IAMGOLD Trading Down 0.9 %

Shares of IAG stock traded down $0.06 during trading hours on Wednesday, hitting $6.24. 12,177,913 shares of the company were exchanged, compared to its average volume of 10,688,694. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. IAMGOLD has a fifty-two week low of $2.32 and a fifty-two week high of $6.38. The company has a 50 day simple moving average of $5.51 and a two-hundred day simple moving average of $5.18. The firm has a market cap of $3.56 billion, a P/E ratio of 4.87 and a beta of 1.56.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last posted its quarterly earnings results on Thursday, November 7th. The mining company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.07. The business had revenue of $438.90 million for the quarter. IAMGOLD had a return on equity of 10.01% and a net margin of 49.56%. During the same period last year, the company posted ($0.01) earnings per share. Equities analysts anticipate that IAMGOLD will post 0.58 EPS for the current year.

Hedge Funds Weigh In On IAMGOLD

Several institutional investors have recently modified their holdings of IAG. Tobam purchased a new stake in IAMGOLD in the fourth quarter worth approximately $25,000. ORG Partners LLC bought a new position in shares of IAMGOLD in the third quarter worth approximately $29,000. Eastern Bank purchased a new position in shares of IAMGOLD in the third quarter worth $30,000. Blue Trust Inc. raised its holdings in IAMGOLD by 157.1% during the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company's stock valued at $47,000 after buying an additional 5,511 shares during the last quarter. Finally, Raab & Moskowitz Asset Management LLC purchased a new stake in IAMGOLD during the 4th quarter valued at $56,000. 47.08% of the stock is currently owned by institutional investors.

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.