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

StockNews.com downgraded shares of IAMGOLD (NYSE:IAGFree Report) (TSE:IMG) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

Other equities analysts also recently issued reports about the stock. BMO Capital Markets raised their price target on shares of IAMGOLD from $4.00 to $4.25 and gave the stock an outperform rating in a research note on Friday, April 5th. National Bank Financial restated a sector perform spec overwgt rating on shares of IAMGOLD in a research report on Monday, April 8th. Finally, CIBC raised their price objective 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 issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $3.55.

View Our Latest Stock Report on IAG

IAMGOLD Stock Performance

NYSE:IAG opened at $3.66 on Thursday. The company’s 50-day moving average price is $3.09 and its 200-day moving average price is $2.66. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.36. The company has a market cap of $1.82 billion, a P/E ratio of 19.26, a P/E/G ratio of 1.25 and a beta of 1.70. IAMGOLD has a twelve month low of $1.99 and a twelve month high of $3.92.

IAMGOLD (NYSE:IAGGet Free Report) (TSE:IMG) last posted its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm had revenue of $297.60 million for the quarter. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. On average, sell-side analysts forecast that IAMGOLD will post 0.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IAMGOLD

A number of institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp increased its position in shares of IAMGOLD by 2.9% during the fourth quarter. Van ECK Associates Corp now owns 48,117,785 shares of the mining company’s stock valued at $121,736,000 after acquiring an additional 1,368,491 shares during the last quarter. Donald Smith & CO. Inc. increased its position in shares of IAMGOLD by 13.9% during 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 last quarter. Helikon Investments Ltd increased its position in shares of IAMGOLD by 250.5% during 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 last quarter. Vanguard Group Inc. increased its position in shares of IAMGOLD by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 17,510,541 shares of the mining company’s stock valued at $44,302,000 after acquiring an additional 135,524 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of IAMGOLD by 0.7% during the first quarter. Renaissance Technologies LLC now owns 17,085,400 shares of the mining company’s stock valued at $46,308,000 after acquiring an additional 124,300 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

About IAMGOLD

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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.

Further Reading

Analyst Recommendations for IAMGOLD (NYSE:IAG)

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