IAMGOLD (NYSE:IAG) Downgraded by StockNews.com to Sell

StockNews.com cut shares of IAMGOLD (NYSE:IAGFree Report) (TSE:IMG) from a hold rating to a sell rating in a research report report published on Monday morning.

Several other brokerages also recently weighed in on IAG. National Bank Financial reiterated a sector perform spec overwgt rating on shares of IAMGOLD in a research report on Monday, April 8th. BMO Capital Markets reaffirmed an outperform rating and issued a $5.00 price target on shares of IAMGOLD in a research note on Thursday, June 6th. Scotiabank increased their target price on IAMGOLD from $4.25 to $4.50 and gave the stock a sector perform rating in a research note on Thursday, June 6th. Finally, CIBC lowered their price target on IAMGOLD from $5.00 to $4.80 and set a neutral rating on the stock in a report on Friday, June 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and an average price target of $4.01.

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IAMGOLD Stock Down 2.0 %

IAG stock opened at $3.68 on Monday. The firm has a market capitalization of $2.09 billion, a PE ratio of 13.13 and a beta of 1.56. The company has a quick ratio of 0.55, a current ratio of 0.91 and a debt-to-equity ratio of 0.35. The stock has a 50-day simple moving average of $3.87 and a two-hundred day simple moving average of $3.19. IAMGOLD has a twelve month low of $1.99 and a twelve month high of $4.59.

IAMGOLD (NYSE:IAGGet Free Report) (TSE:IMG) last issued its quarterly earnings results on Thursday, May 9th. The mining company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. The firm had revenue of $338.90 million during the quarter. IAMGOLD had a return on equity of 3.17% and a net margin of 12.48%. During the same quarter last year, the business posted $0.05 EPS. On average, equities analysts predict that IAMGOLD will post 0.28 EPS for the current fiscal year.

Institutional Trading of IAMGOLD

A number of hedge funds and other institutional investors have recently bought and sold shares of IAG. Euro Pacific Asset Management LLC grew its position in shares of IAMGOLD by 48.1% during 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. Norges Bank bought a new stake in shares of IAMGOLD in the 4th quarter valued at approximately $8,642,000. P Schoenfeld Asset Management LP lifted its stake in shares of IAMGOLD by 11.1% during the 4th quarter. P Schoenfeld Asset Management LP now owns 8,234,284 shares of the mining company’s stock worth $20,833,000 after acquiring an additional 822,149 shares during the last quarter. Donald Smith & CO. Inc. lifted its stake in shares of 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 during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of IAMGOLD during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

About IAMGOLD

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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.

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Analyst Recommendations for IAMGOLD (NYSE:IAG)

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