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

StockNews.com upgraded shares of IAMGOLD (NYSE:IAG) (TSE:IMG) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

IAG has been the topic of several other research reports. National Bank Financial reiterated a sector perform spec overwgt rating on shares of IAMGOLD in a research note on Wednesday, January 3rd. BMO Capital Markets increased their target price on shares of IAMGOLD from $4.00 to $4.25 and gave the stock an outperform rating in a report on Friday, April 5th. Finally, CIBC increased their target price on shares of IAMGOLD from $3.00 to $3.10 and gave the stock a neutral rating in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $3.52.

IAMGOLD Price Performance

Shares of NYSE:IAG opened at $3.63 on Wednesday. The firm’s 50 day moving average price is $2.91 and its 200-day moving average price is $2.58. IAMGOLD has a twelve month low of $1.99 and a twelve month high of $3.81. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $1.80 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 2.20 and a beta of 1.70.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Thursday, February 15th. The mining company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. The firm had revenue of $297.60 million for the quarter. Equities research analysts expect that IAMGOLD will post 0.04 EPS for the current year.

Institutional Investors Weigh In On IAMGOLD

A number of institutional investors have recently added to or reduced their stakes in the stock. Profund Advisors LLC grew its holdings in IAMGOLD by 11.2% during the 1st quarter. Profund Advisors LLC now owns 36,759 shares of the mining company’s stock valued at $100,000 after buying an additional 3,692 shares in the last quarter. CIBC Asset Management Inc grew its holdings in IAMGOLD by 0.9% during the 3rd quarter. CIBC Asset Management Inc now owns 435,298 shares of the mining company’s stock valued at $942,000 after buying an additional 4,000 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in IAMGOLD by 1.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 335,612 shares of the mining company’s stock valued at $847,000 after buying an additional 4,277 shares in the last quarter. Barclays PLC grew its holdings in IAMGOLD by 1.9% during the 3rd quarter. Barclays PLC now owns 293,363 shares of the mining company’s stock valued at $631,000 after buying an additional 5,470 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in shares of IAMGOLD by 18.5% in the second quarter. Great West Life Assurance Co. Can now owns 40,939 shares of the mining company’s stock valued at $108,000 after purchasing an additional 6,395 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other 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.