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

IAMGOLD (NYSE:IAG) (TSE:IMG) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

Several other research analysts have also recently issued reports on the company. BMO Capital Markets upped their price target on IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a report on Friday, April 5th. Scotiabank boosted their price target on shares of IAMGOLD from $3.25 to $3.75 and gave the company a “sector perform” rating in a report on Thursday, April 18th. CIBC boosted their price target on shares of IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Finally, National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, IAMGOLD has a consensus rating of “Hold” and an average price target of $3.55.

IAMGOLD Stock Performance

Shares of NYSE IAG opened at $3.71 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.36. The stock has a 50 day simple moving average of $3.19 and a 200-day simple moving average of $2.70. The company has a market cap of $1.84 billion, a PE ratio of 19.53, a P/E/G ratio of 0.96 and a beta of 1.70. IAMGOLD has a 12-month low of $1.99 and a 12-month high of $3.92.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its earnings results on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. The firm had revenue of $297.60 million for the quarter. On average, equities research analysts forecast that IAMGOLD will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Euro Pacific Asset Management LLC raised its position in IAMGOLD by 48.1% in the fourth quarter. Euro Pacific Asset Management LLC now owns 2,727,065 shares of the mining company’s stock worth $6,898,000 after purchasing an additional 885,697 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in IAMGOLD during the 3rd quarter worth $916,000. Sprott Inc. grew its holdings in IAMGOLD by 888.7% during the 3rd quarter. Sprott Inc. now owns 1,279,400 shares of the mining company’s stock worth $2,751,000 after acquiring an additional 1,150,000 shares during the period. Qube Research & Technologies Ltd grew its holdings in IAMGOLD by 54.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 976,698 shares of the mining company’s stock worth $2,100,000 after acquiring an additional 344,691 shares during the period. Finally, Public Sector Pension Investment Board grew its holdings in IAMGOLD by 0.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 987,468 shares of the mining company’s stock worth $2,140,000 after acquiring an additional 8,485 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.