StockNews.com Downgrades IAMGOLD (NYSE:IAG) to Sell

IAMGOLD (NYSE:IAG) (TSE:IMG) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

Several other research firms also recently issued reports on IAG. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of IAMGOLD in a research note on Monday, April 8th. CIBC raised their target price on IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. Finally, BMO Capital Markets boosted their price target on IAMGOLD from $4.00 to $4.25 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $3.55.

IAMGOLD Price Performance

Shares of NYSE IAG opened at $3.66 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.77. IAMGOLD has a 1-year low of $1.99 and a 1-year high of $3.92. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 1.26 and a beta of 1.70. The business has a 50-day moving average of $3.09 and a 200-day moving average of $2.65.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The firm had revenue of $297.60 million during the quarter. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. On average, equities analysts anticipate that IAMGOLD will post 0.07 EPS for the current fiscal year.

Institutional Trading of IAMGOLD

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vident Advisory LLC acquired a new position in shares of IAMGOLD in the 4th quarter worth approximately $25,000. Raymond James Financial Services Advisors Inc. acquired a new position in IAMGOLD in the fourth quarter worth $26,000. Hsbc Holdings PLC bought a new stake in IAMGOLD during the third quarter valued at $28,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of IAMGOLD during the fourth quarter worth $29,000. Finally, Citigroup Inc. bought a new position in shares of IAMGOLD in the 1st quarter worth about $31,000. 47.08% of the stock is owned by institutional investors.

IAMGOLD Company Profile

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.