StockNews.com Lowers IAMGOLD (NYSE:IAG) to Sell

IAMGOLD (NYSE:IAG) (TSE:IMG) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

Several other brokerages have also commented on IAG. CIBC upped their price target on IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of IAMGOLD in a research note on Monday, April 8th. Finally, BMO Capital Markets upped their price target on IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a research note on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.52.

IAMGOLD Stock Performance

NYSE IAG opened at $3.66 on Thursday. The stock’s fifty day moving average is $3.05 and its two-hundred day moving average is $2.64. The firm has a market capitalization of $1.82 billion, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 1.23 and a beta of 1.70. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.77 and a current ratio of 1.19. IAMGOLD has a fifty-two week low of $1.99 and a fifty-two week high of $3.92.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Thursday, February 15th. The mining company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $297.60 million for the quarter. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. On average, research analysts anticipate that IAMGOLD will post 0.07 earnings per share for the current year.

Hedge Funds Weigh In On IAMGOLD

Several hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp lifted its stake in IAMGOLD by 2.9% during the 4th quarter. Van ECK Associates Corp now owns 48,117,785 shares of the mining company’s stock worth $121,736,000 after acquiring an additional 1,368,491 shares in the last quarter. Donald Smith & CO. Inc. lifted its stake in IAMGOLD by 13.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 35,778,309 shares of the mining company’s stock worth $90,519,000 after acquiring an additional 4,358,444 shares in the last quarter. Vanguard Group Inc. lifted its stake in IAMGOLD by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 17,510,541 shares of the mining company’s stock worth $44,302,000 after acquiring an additional 135,524 shares in the last quarter. Renaissance Technologies LLC lifted its stake in IAMGOLD by 0.7% during the 1st quarter. Renaissance Technologies LLC now owns 17,085,400 shares of the mining company’s stock worth $46,308,000 after acquiring an additional 124,300 shares in the last quarter. Finally, Helikon Investments Ltd acquired a new position in IAMGOLD during the 4th quarter worth about $23,722,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.