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

StockNews.com upgraded shares of IAMGOLD (NYSE:IAG) (TSE:IMG) from a sell rating to a hold rating in a research report sent to investors on Friday.

IAG has been the subject of several other reports. BMO Capital Markets upped their target price on IAMGOLD from $4.00 to $4.25 and gave the company an outperform rating in a report on Friday, April 5th. CIBC lifted their target price on IAMGOLD from $3.00 to $3.10 and gave the stock a neutral rating in a research note on Wednesday, February 7th. National Bank Financial restated a sector perform spec overwgt rating on shares of IAMGOLD in a research report on Monday, April 8th. Finally, Scotiabank lifted their price objective on shares of IAMGOLD from $3.25 to $3.75 and gave the stock a sector perform rating in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, IAMGOLD has a consensus rating of Hold and an average price target of $3.55.

IAMGOLD Price Performance

Shares of NYSE:IAG opened at $3.80 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1.89 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 0.68 and a beta of 1.69. The stock’s fifty day simple moving average is $3.24 and its two-hundred day simple moving average is $2.73. IAMGOLD has a 1-year low of $1.99 and a 1-year high of $3.92.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results 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. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. The company had revenue of $297.60 million for the quarter. As a group, analysts forecast that IAMGOLD will post 0.14 EPS for the current fiscal year.

Institutional Trading of IAMGOLD

A number of institutional investors have recently added to or reduced their stakes in IAG. Van ECK Associates Corp grew its holdings in IAMGOLD by 2.9% during the 4th quarter. Van ECK Associates Corp now owns 48,117,785 shares of the mining company’s stock valued at $121,736,000 after buying an additional 1,368,491 shares in the last quarter. Donald Smith & CO. Inc. grew its position in IAMGOLD by 13.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 35,778,309 shares of the mining company’s stock valued at $90,519,000 after acquiring an additional 4,358,444 shares during the last quarter. Helikon Investments Ltd grew its holdings in shares of IAMGOLD by 250.5% during the 1st quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock valued at $109,429,000 after purchasing an additional 23,485,183 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of IAMGOLD by 2.1% during the third quarter. Vanguard Group Inc. now owns 17,375,017 shares of the mining company’s stock valued at $37,356,000 after buying an additional 363,051 shares during the last quarter. Finally, Polunin Capital Partners Ltd grew its position in IAMGOLD by 12.1% during the 1st quarter. Polunin Capital Partners Ltd now owns 8,995,059 shares of the mining company’s stock worth $29,954,000 after acquiring an additional 968,104 shares during the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

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.