IAMGOLD (NYSE:IAG) Upgraded 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 report published on Friday morning.

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

IAMGOLD Stock Up 2.0 %

IAG opened at $3.79 on Friday. The business has a 50 day moving average price of $3.21 and a 200 day moving average price of $2.71. IAMGOLD has a twelve month low of $1.99 and a twelve month high of $3.92. 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 firm has a market cap of $1.88 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 0.67 and a beta of 1.70.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly 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. The company 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%. Research analysts forecast that IAMGOLD will post 0.14 EPS for the current year.

Institutional Trading of IAMGOLD

A number of large investors have recently bought and sold shares of IAG. Helikon Investments Ltd grew its position in IAMGOLD by 250.5% in the first quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock valued at $109,429,000 after acquiring an additional 23,485,183 shares during the period. Donald Smith & CO. Inc. grew its position in IAMGOLD by 13.9% in 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 period. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in IAMGOLD in the fourth quarter valued at $10,972,000. Norges Bank bought a new stake in IAMGOLD in the fourth quarter valued at $8,642,000. Finally, Van ECK Associates Corp grew its position in IAMGOLD by 4.0% in the third quarter. Van ECK Associates Corp now owns 46,749,294 shares of the mining company’s stock valued at $100,513,000 after acquiring an additional 1,779,306 shares during the period. 47.08% of the stock is currently owned by institutional investors.

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.