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

IAMGOLD (NYSE:IAGGet Free Report) (TSE:IMG) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

A number of other brokerages have also issued reports on IAG. BMO Capital Markets restated an “outperform” rating and set a $5.00 price target on shares of IAMGOLD in a research note on Thursday, June 6th. National Bank Financial reissued a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. CIBC dropped their target price on IAMGOLD from $5.00 to $4.80 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Finally, Scotiabank upped their target price on IAMGOLD from $4.25 to $4.50 and gave the stock a “sector perform” rating in a research note on Thursday, June 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, IAMGOLD presently has a consensus rating of “Hold” and an average price target of $4.02.

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IAMGOLD Stock Up 2.8 %

Shares of NYSE:IAG opened at $4.19 on Tuesday. IAMGOLD has a 52-week low of $1.99 and a 52-week high of $4.59. The company has a quick ratio of 0.55, a current ratio of 0.91 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $3.90 and its 200 day moving average is $3.26. The stock has a market cap of $2.38 billion, a P/E ratio of 14.95 and a beta of 1.56.

IAMGOLD (NYSE:IAGGet Free Report) (TSE:IMG) last released its quarterly earnings data on Thursday, May 9th. The mining company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. The firm had revenue of $338.90 million for the quarter. IAMGOLD had a net margin of 12.48% and a return on equity of 3.17%. During the same quarter in the prior year, the business posted $0.05 earnings per share. Sell-side analysts predict that IAMGOLD will post 0.28 EPS for the current year.

Hedge Funds Weigh In On IAMGOLD

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cetera Advisors LLC acquired a new position in IAMGOLD during the first quarter worth $50,000. Virtu Financial LLC boosted its position in shares of IAMGOLD by 1,034.3% during the 1st quarter. Virtu Financial LLC now owns 339,792 shares of the mining company’s stock worth $1,132,000 after purchasing an additional 309,836 shares during the period. Linscomb Wealth Inc. acquired a new stake in shares of IAMGOLD in the first quarter valued at $67,000. Donald Smith & CO. Inc. grew its position in IAMGOLD by 0.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 36,077,268 shares of the mining company’s stock valued at $120,137,000 after acquiring an additional 298,959 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of IAMGOLD by 1.0% in the first quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock valued at $58,871,000 after purchasing an additional 168,302 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.


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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.

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Analyst Recommendations for IAMGOLD (NYSE:IAG)

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