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

IAMGOLD (NYSE:IAG) (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.

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:IAG) (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.

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.