IAMGOLD (NYSE:IAG) Rating Lowered to Sell at StockNews.com

IAMGOLD (NYSE:IAG) (TSE:IMG) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

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

IAMGOLD Trading Up 0.5 %

NYSE:IAG opened at $3.66 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $3.09 and its 200-day moving average is $2.65. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 1.26 and a beta of 1.70. IAMGOLD has a 12 month low of $1.99 and a 12 month high of $3.92.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its earnings results on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. The firm had revenue of $297.60 million for the quarter. Equities analysts anticipate that IAMGOLD will post 0.07 EPS for the current year.

Institutional Investors Weigh In On IAMGOLD

Several institutional investors and hedge funds have recently bought and sold shares of the business. Euro Pacific Asset Management LLC boosted its position in shares of IAMGOLD by 48.1% during the 4th quarter. Euro Pacific Asset Management LLC now owns 2,727,065 shares of the mining company’s stock valued at $6,898,000 after acquiring an additional 885,697 shares in the last quarter. Intact Investment Management Inc. bought a new stake in shares of IAMGOLD in the 3rd quarter valued at approximately $916,000. Sprott Inc. raised its holdings in shares of IAMGOLD by 888.7% in the 3rd quarter. Sprott Inc. now owns 1,279,400 shares of the mining company’s stock worth $2,751,000 after buying an additional 1,150,000 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in shares of IAMGOLD by 54.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 976,698 shares of the mining company’s stock worth $2,100,000 after buying an additional 344,691 shares during the period. Finally, Public Sector Pension Investment Board boosted its stake in IAMGOLD by 0.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 987,468 shares of the mining company’s stock valued at $2,140,000 after buying an additional 8,485 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.

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.