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

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

A number of other analysts have also weighed in on IAG. Raymond James upgraded IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, CIBC upgraded shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, IAMGOLD has a consensus rating of “Moderate Buy” and a consensus price target of $6.57.

IAMGOLD Price Performance

NYSE:IAG opened at $5.51 on Thursday. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The firm has a market cap of $3.15 billion, a PE ratio of 3.80 and a beta of 1.56. IAMGOLD has a 12 month low of $2.56 and a 12 month high of $6.69. The company’s 50-day moving average price is $5.81 and its two-hundred day moving average price is $5.47.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its earnings results on Thursday, February 20th. The mining company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.05). IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. The business had revenue of $469.90 million during the quarter, compared to analyst estimates of $498.68 million. On average, equities analysts anticipate that IAMGOLD will post 0.67 EPS for the current fiscal year.

Hedge Funds Weigh In On IAMGOLD

Institutional investors have recently modified their holdings of the stock. Tobam bought a new position in IAMGOLD during the 4th quarter worth approximately $25,000. Blue Trust Inc. raised its holdings in IAMGOLD by 157.1% in the fourth 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. Raab & Moskowitz Asset Management LLC bought a new position in shares of IAMGOLD during the fourth quarter worth $56,000. Atria Wealth Solutions Inc. acquired a new position in shares of IAMGOLD in the 4th quarter valued at $68,000. Finally, Choreo LLC acquired a new stake in IAMGOLD during the 4th quarter worth $88,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

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.