StockNews.com Upgrades IAMGOLD (NYSE:IAG) to "Buy"

StockNews.com upgraded shares of IAMGOLD (NYSE:IAG - Free Report) TSE: IMG from a hold rating to a buy rating in a report released on Thursday.

Other analysts have also issued reports about the stock. Canaccord Genuity Group raised shares of IAMGOLD from a "hold" rating to a "buy" rating and upped their price objective for the stock from $7.75 to $10.50 in a research note on Tuesday, October 22nd. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $6.00 price target on shares of IAMGOLD in a research report on Tuesday, October 22nd. National Bank Financial raised shares of IAMGOLD from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. CIBC upgraded IAMGOLD from a "neutral" rating to a "sector outperform" rating in a report on Monday, December 2nd. Finally, Cibc World Mkts raised IAMGOLD from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, IAMGOLD has a consensus rating of "Moderate Buy" and a consensus target price of $6.57.

IAMGOLD Trading Down 0.9 %

Shares of NYSE:IAG traded down $0.06 during trading on Thursday, reaching $6.41. 11,268,177 shares of the company were exchanged, compared to its average volume of 12,636,900. 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 firm has a market capitalization of $3.66 billion, a PE ratio of 5.00 and a beta of 1.56. The business's fifty day simple moving average is $5.61 and its 200-day simple moving average is $5.24. IAMGOLD has a 12-month low of $2.32 and a 12-month high of $6.64.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last issued its earnings results on Thursday, November 7th. The mining company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.07. IAMGOLD had a return on equity of 10.01% and a net margin of 49.56%. The business had revenue of $438.90 million during the quarter. During the same period last year, the firm earned ($0.01) earnings per share. On average, research analysts anticipate that IAMGOLD will post 0.57 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tobam acquired a new stake in IAMGOLD in the fourth quarter worth about $25,000. ORG Partners LLC purchased a new position in shares of IAMGOLD in the 3rd quarter valued at approximately $29,000. Eastern Bank acquired a new stake in IAMGOLD in the 3rd quarter worth approximately $30,000. Blue Trust Inc. grew its position in IAMGOLD by 157.1% during the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company's stock worth $47,000 after purchasing an additional 5,511 shares during the last quarter. Finally, Raab & Moskowitz Asset Management LLC acquired a new position in IAMGOLD during the 4th quarter valued at approximately $56,000. 47.08% of the stock is currently owned by hedge funds and other 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.