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

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

Several other research firms also recently weighed in on IAG. BMO Capital Markets upped their price target on IAMGOLD from $4.00 to $4.25 and gave the stock an outperform rating in a research note on Friday, April 5th. CIBC upped their price target on IAMGOLD from $3.00 to $3.10 and gave the stock a neutral rating in a research note on Wednesday, February 7th. Finally, National Bank Financial restated a sector perform spec overwgt rating on shares of IAMGOLD in a research note on Monday, April 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $3.55.

IAMGOLD Stock Down 0.5 %

IAG stock opened at $3.64 on Thursday. IAMGOLD has a fifty-two week low of $1.99 and a fifty-two week high of $3.92. The business’s 50 day moving average price is $3.07 and its two-hundred day moving average price is $2.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.77 and a current ratio of 1.19. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 1.26 and a beta of 1.70.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The firm had revenue of $297.60 million for the quarter. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. As a group, analysts forecast that IAMGOLD will post 0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IAMGOLD

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IAG. JPMorgan Chase & Co. lifted its position in IAMGOLD by 416.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,430,863 shares of the mining company’s stock valued at $8,459,000 after acquiring an additional 1,960,562 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of IAMGOLD by 2.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 488,427 shares of the mining company’s stock valued at $1,700,000 after buying an additional 11,047 shares during the period. Private Advisor Group LLC bought a new position in shares of IAMGOLD during the 1st quarter valued at $41,000. Citigroup Inc. bought a new position in shares of IAMGOLD during the 1st quarter valued at $31,000. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of IAMGOLD by 23.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 36,927 shares of the mining company’s stock valued at $137,000 after buying an additional 6,913 shares during the period. 47.08% of the stock is owned by 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.