IAMGOLD (NYSE:IAG) Cut to “Hold” at StockNews.com

StockNews.com cut shares of IAMGOLD (NYSE:IAG) (TSE:IMG) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating and increased their price objective for the company from $7.75 to $10.50 in a research note on Tuesday, October 22nd. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 price objective on shares of IAMGOLD in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.57.

IAMGOLD Trading Down 0.9 %

Shares of IAG stock opened at $6.24 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 4.87 and a beta of 1.56. The stock has a 50 day simple moving average of $5.51 and a 200-day simple moving average of $5.16. IAMGOLD has a 1-year low of $2.32 and a 1-year high of $6.38.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its earnings results on Thursday, November 7th. The mining company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.07. The business had revenue of $438.90 million during the quarter. IAMGOLD had a return on equity of 10.01% and a net margin of 49.56%. During the same period in the previous year, the company earned ($0.01) earnings per share. On average, equities research analysts expect that IAMGOLD will post 0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On IAMGOLD

Hedge funds have recently modified their holdings of the business. Tobam purchased a new position in shares of IAMGOLD during the 4th quarter worth $25,000. ORG Partners LLC purchased a new position in shares of IAMGOLD during the 3rd quarter worth $29,000. Eastern Bank purchased a new position in shares of IAMGOLD during the 3rd quarter worth $30,000. Blue Trust Inc. grew its holdings in shares of IAMGOLD by 157.1% during the 4th 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. Finally, Raab & Moskowitz Asset Management LLC purchased a new position in IAMGOLD during the 4th quarter valued at about $56,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

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.