IAMGOLD (NYSE:IAG) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of IAMGOLD (NYSE:IAG – Get Rating) (TSE:IMG) from a sell rating to a hold rating in a report issued on Wednesday morning.

A number of other brokerages have also commented on IAG. National Bank Financial lowered shares of IAMGOLD from an outperform rating to a sector perform rating in a report on Thursday, May 5th. Credit Suisse Group lowered shares of IAMGOLD from a neutral rating to an underperform rating and decreased their price target for the stock from $3.50 to $2.50 in a research note on Wednesday, May 4th. Raymond James lowered shares of IAMGOLD from a market perform rating to an underperform rating and decreased their price target for the stock from $3.00 to $2.25 in a research note on Wednesday, May 4th. Royal Bank of Canada lowered shares of IAMGOLD from a sector perform rating to an underperform rating and set a $2.00 price objective for the company. in a research note on Wednesday, April 20th. Finally, Canaccord Genuity Group lowered shares of IAMGOLD from a hold rating to a sell rating in a research note on Wednesday, May 4th. Six research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, IAMGOLD presently has an average rating of Hold and an average target price of $3.35.

Shares of NYSE:IAG opened at $2.11 on Wednesday. The company’s fifty day moving average price is $3.18 and its 200-day moving average price is $3.03. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -3.98, a PEG ratio of 15.29 and a beta of 1.15. IAMGOLD has a one year low of $1.96 and a one year high of $3.85. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.12.

IAMGOLD (NYSE:IAG – Get Rating) (TSE:IMG) last issued its quarterly earnings results on Wednesday, February 23rd. The mining company reported $0.09 EPS for the quarter. The firm had revenue of $294.60 million for the quarter, compared to analyst estimates of $296.07 million. IAMGOLD had a negative net margin of 20.65% and a positive return on equity of 1.90%. During the same quarter in the prior year, the firm earned $0.04 EPS. As a group, equities research analysts expect that IAMGOLD will post 0.07 EPS for the current year.

A number of large investors have recently modified their holdings of the business. Perfromance Wealth Partners LLC bought a new position in IAMGOLD during the first quarter valued at $37,000. Private Advisor Group LLC purchased a new stake in shares of IAMGOLD during the first quarter valued at $41,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted 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 purchasing an additional 4,350 shares during the period. Optimum Investment Advisors purchased a new stake in IAMGOLD in the fourth quarter worth about $47,000. Finally, Aigen Investment Management LP purchased a new stake in IAMGOLD in the first quarter worth about $51,000. 49.21% of the stock is currently owned by institutional investors and hedge funds.

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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