Iamgold (NYSE:IAG) Stock Rating Lowered by Zacks Research

Iamgold (NYSE:IAG) (TSE:IMG) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Scotiabank increased their price target on shares of Iamgold to $25.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 25th. TD Securities reaffirmed a “buy” rating on shares of Iamgold in a research note on Thursday, February 19th. Wall Street Zen upgraded shares of Iamgold from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Iamgold in a research report on Thursday, January 22nd. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Iamgold in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.75.

Iamgold Trading Up 7.4%

Shares of NYSE IAG opened at $18.79 on Monday. The business has a 50 day simple moving average of $20.45 and a 200 day simple moving average of $16.48. Iamgold has a 52 week low of $5.35 and a 52 week high of $24.87. The stock has a market cap of $11.05 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.39 and a beta of 1.32. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.75.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Tuesday, February 17th. The mining company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.15. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Iamgold had a net margin of 23.29% and a return on equity of 19.26%. On average, research analysts predict that Iamgold will post 0.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director David Stewart Smith sold 31,000 shares of Iamgold stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $32.87, for a total value of $1,018,970.00. Following the transaction, the director owned 20,000 shares of the company’s stock, valued at $657,400. This trade represents a 60.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by company insiders.

Institutional Trading of Iamgold

Several large investors have recently modified their holdings of IAG. Mariner LLC raised its holdings in Iamgold by 0.6% in the 4th quarter. Mariner LLC now owns 110,033 shares of the mining company’s stock worth $1,814,000 after acquiring an additional 615 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in Iamgold by 1.9% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 37,000 shares of the mining company’s stock worth $612,000 after acquiring an additional 700 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Iamgold by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company’s stock worth $2,849,000 after acquiring an additional 1,303 shares during the last quarter. Northwest & Ethical Investments L.P. boosted its holdings in Iamgold by 0.4% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company’s stock valued at $5,716,000 after acquiring an additional 1,424 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Iamgold by 4.8% during the fourth quarter. Franklin Resources Inc. now owns 32,011 shares of the mining company’s stock valued at $528,000 after acquiring an additional 1,474 shares during the period. 47.08% of the stock is owned by institutional investors.

Iamgold Company Profile

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.