IAMGOLD (NYSE:IAG) Rating Lowered to Underperform at Royal Bank of Canada

IAMGOLD (NYSE:IAGGet Rating) (TSE:IMG) was downgraded by equities research analysts at Royal Bank of Canada from a “sector perform” rating to an “underperform” rating in a research note issued to investors on Wednesday, The Fly reports.

A number of other brokerages also recently issued reports on IAG. BMO Capital Markets downgraded IAMGOLD from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $4.00 to $2.75 in a research report on Monday. StockNews.com downgraded IAMGOLD from a “hold” rating to a “sell” rating in a research report on Wednesday. National Bank Financial increased their target price on IAMGOLD from C$4.50 to C$5.00 in a research note on Friday, March 11th. Raymond James set a $3.00 target price on IAMGOLD and gave the company a “market perform” rating in a research note on Friday, February 25th. Finally, TD Securities reduced their target price on IAMGOLD from C$6.00 to C$5.00 in a research note on Friday, January 14th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $3.64.

NYSE:IAG opened at $3.32 on Wednesday. The company has a current ratio of 1.63, a quick ratio of 1.12 and a debt-to-equity ratio of 0.20. IAMGOLD has a 1 year low of $2.16 and a 1 year high of $3.85. The stock has a market capitalization of $1.58 billion, a P/E ratio of -6.15 and a beta of 1.09. The stock’s fifty day moving average is $3.32.

IAMGOLD (NYSE:IAGGet Rating) (TSE:IMG) last issued its quarterly earnings data on Wednesday, February 23rd. The mining company reported $0.09 earnings per share (EPS) for the quarter. IAMGOLD had a positive return on equity of 1.07% and a negative net margin of 22.09%. The company had revenue of $294.60 million for the quarter, compared to the consensus estimate of $296.07 million. During the same quarter last year, the business posted $0.04 earnings per share. Equities analysts forecast that IAMGOLD will post -0.04 earnings per share for the current year.

Several large investors have recently made changes to their positions in the company. CLARET ASSET MANAGEMENT Corp grew its stake in shares of IAMGOLD by 6.5% during the first quarter. CLARET ASSET MANAGEMENT Corp now owns 65,700 shares of the mining company’s stock valued at $228,000 after buying an additional 4,000 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of IAMGOLD by 28.7% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,511 shares of the mining company’s stock valued at $44,000 after buying an additional 4,350 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of IAMGOLD by 3.3% during the fourth quarter. BNP Paribas Arbitrage SA now owns 166,894 shares of the mining company’s stock valued at $433,000 after buying an additional 5,384 shares during the last quarter. Bennicas & Associates Inc. grew its stake in shares of IAMGOLD by 9.3% during the first quarter. Bennicas & Associates Inc. now owns 64,766 shares of the mining company’s stock valued at $225,000 after buying an additional 5,500 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of IAMGOLD by 1.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 480,576 shares of the mining company’s stock valued at $1,087,000 after buying an additional 7,536 shares during the last quarter. 46.66% of the stock is currently owned by hedge funds and other institutional investors.

About IAMGOLD (Get Rating)

IAMGOLD Corporation, through its subsidiaries, explores, develops, and operates gold mining properties in North America, South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine situated in Burkina Faso and Boto gold project located in Senegal, West Africa; and Westwood mine, covers an area of 1,925 hectare and located in Quebec and the Côté gold project, which covers an area of 586 square kilometer located in Ontario, Canada.

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