IAMGOLD (NYSE:IAG) Downgraded to “Sell” at StockNews.com

StockNews.com cut shares of IAMGOLD (NYSE:IAG) (TSE:IMG) from a hold rating to a sell rating in a research report released on Thursday morning.

Several other equities research analysts have also commented on IAG. BMO Capital Markets upped their price target on shares of IAMGOLD from $4.00 to $4.25 and gave the company an outperform rating in a report on Friday, April 5th. CIBC upped 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 reaffirmed a sector perform spec overwgt rating on shares of IAMGOLD in a report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, IAMGOLD has an average rating of Hold and a consensus price target of $3.55.

IAMGOLD Price Performance

Shares of IAG opened at $3.64 on Thursday. The firm has a market capitalization of $1.81 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 1.26 and a beta of 1.70. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.77. IAMGOLD has a 1-year low of $1.99 and a 1-year high of $3.92. The company’s fifty day moving average price is $3.07 and its 200-day moving average price is $2.64.

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

Institutional Investors Weigh In On IAMGOLD

Hedge funds have recently modified their holdings of the company. Vident Advisory LLC purchased a new stake in shares of IAMGOLD during the 4th quarter worth about $25,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of IAMGOLD during the 4th quarter worth about $26,000. Hsbc Holdings PLC purchased a new position in IAMGOLD in the 3rd quarter valued at about $28,000. Dynamic Technology Lab Private Ltd purchased a new position in IAMGOLD in the 4th quarter valued at about $29,000. Finally, Citigroup Inc. purchased a new position in IAMGOLD in the 1st quarter valued at about $31,000. 47.08% of the stock is 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.