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

IAMGOLD (NYSE:IAG) (TSE:IMG) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Other equities research analysts have also recently issued research reports about the stock. Raymond James raised shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. CIBC raised shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. Finally, Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.57.

IAMGOLD Price Performance

IAMGOLD stock opened at $5.51 on Thursday. The company’s fifty day moving average price is $5.81 and its 200 day moving average price is $5.46. IAMGOLD has a 1 year low of $2.56 and a 1 year high of $6.69. The stock has a market capitalization of $3.15 billion, a P/E ratio of 3.80 and a beta of 1.56. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, February 20th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The company had revenue of $469.90 million during the quarter, compared to analyst estimates of $498.68 million. As a group, equities research analysts anticipate that IAMGOLD will post 0.67 earnings per share for the current fiscal year.

Institutional Trading of IAMGOLD

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tobam purchased a new stake in IAMGOLD during the fourth quarter worth about $25,000. Blue Trust Inc. increased its stake in IAMGOLD by 157.1% during the fourth quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock worth $47,000 after purchasing an additional 5,511 shares during the period. Raab & Moskowitz Asset Management LLC purchased a new stake in IAMGOLD during the fourth quarter worth about $56,000. Atria Wealth Solutions Inc. purchased a new stake in IAMGOLD during the fourth quarter worth about $68,000. Finally, Choreo LLC purchased a new stake in IAMGOLD during the fourth quarter worth about $88,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

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.