IAMGOLD (NYSE:IAG) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of IAMGOLD (NYSE:IAG) (TSE:IMG) from a buy rating to a hold rating in a report issued on Wednesday.

IAG has been the topic of several other reports. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating and lifted their target price for the stock from $7.75 to $10.50 in a report on Tuesday, October 22nd. National Bank Financial upgraded shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. CIBC raised shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. Finally, Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.57.

IAMGOLD Trading Down 4.0 %

IAMGOLD stock opened at $5.34 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. The firm’s 50 day moving average price is $5.39 and its 200-day moving average price is $5.02. IAMGOLD has a 1 year low of $2.23 and a 1 year high of $6.37. The stock has a market cap of $3.05 billion, a P/E ratio of 4.17 and a beta of 1.56.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its stake in shares of IAMGOLD by 368.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,521,670 shares of the mining company’s stock worth $7,772,000 after acquiring an additional 1,196,564 shares during the last quarter. Semanteon Capital Management LP purchased a new stake in IAMGOLD in the third quarter worth $503,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of IAMGOLD by 158.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company’s stock worth $24,301,000 after purchasing an additional 2,839,556 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of IAMGOLD by 8.8% during the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock valued at $276,639,000 after purchasing an additional 4,267,084 shares during the period. Finally, U S Global Investors Inc. grew its holdings in shares of IAMGOLD by 241.6% in the third quarter. U S Global Investors Inc. now owns 854,114 shares of the mining company’s stock worth $4,467,000 after purchasing an additional 604,114 shares during 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.