Iamgold (NYSE:IAG) Cut to Hold at Zacks Research

Zacks Research lowered shares of Iamgold (NYSE:IAG) (TSE:IMG) from a strong-buy rating to a hold rating in a research note released on Tuesday morning,Zacks.com reports.

A number of other research analysts have also recently weighed in on IAG. Scotiabank lifted their target price on shares of Iamgold from $8.50 to $15.00 and gave the company a “sector perform” rating in a research note on Thursday, October 23rd. Stifel Nicolaus upgraded Iamgold from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Raymond James Financial upped their price objective on Iamgold from $9.00 to $13.00 and gave the stock a “market perform” rating in a research note on Friday, October 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Iamgold in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Iamgold from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Iamgold has an average rating of “Moderate Buy” and an average target price of $15.25.

Iamgold Trading Up 3.8%

Shares of NYSE:IAG opened at $20.00 on Tuesday. Iamgold has a 1 year low of $5.02 and a 1 year high of $20.40. The stock’s fifty day moving average price is $16.14 and its 200-day moving average price is $12.25. The company has a market cap of $11.82 billion, a P/E ratio of 33.33, a PEG ratio of 0.28 and a beta of 1.38. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.68 and a quick ratio of 0.95.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its earnings results on Tuesday, November 4th. The mining company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. Iamgold had a net margin of 15.39% and a return on equity of 10.39%. The business had revenue of $714.61 million during the quarter, compared to the consensus estimate of $759.45 million. Sell-side analysts expect that Iamgold will post 0.67 earnings per share for the current year.

Institutional Trading of Iamgold

A number of institutional investors have recently bought and sold shares of IAG. Tsfg LLC acquired a new stake in Iamgold during the 3rd quarter valued at approximately $26,000. FNY Investment Advisers LLC purchased a new position in shares of Iamgold during the fourth quarter worth $38,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Iamgold during the fourth quarter worth $57,000. Aventura Private Wealth LLC acquired a new position in Iamgold during the fourth quarter valued at $58,000. Finally, Banque Transatlantique SA purchased a new stake in Iamgold in the second quarter valued at $26,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Iamgold Company Profile

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.