IAMGOLD (NYSE:IAG) Upgraded at StockNews.com

IAMGOLD (NYSE:IAG) (TSE:IMG) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

IAG has been the topic of a number of other research reports. BMO Capital Markets lifted their target price on IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a research report on Friday, April 5th. Scotiabank boosted their price objective on IAMGOLD from $3.25 to $3.75 and gave the company a “sector perform” rating in a report on Thursday, April 18th. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. Finally, CIBC boosted their price objective on IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $3.55.

IAMGOLD Stock Performance

NYSE IAG opened at $3.71 on Friday. The stock’s fifty day moving average is $3.19 and its two-hundred day moving average is $2.70. The firm has a market capitalization of $1.84 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 0.96 and a beta of 1.70. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.77 and a current ratio of 1.19. IAMGOLD has a fifty-two week low of $1.99 and a fifty-two week high of $3.92.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its earnings results on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. The company had revenue of $297.60 million for the quarter. On average, research analysts anticipate that IAMGOLD will post 0.1 earnings per share for the current year.

Institutional Investors Weigh In On IAMGOLD

Several large investors have recently bought and sold shares of the stock. CIBC Asset Management Inc increased its holdings in IAMGOLD by 0.9% during the 3rd quarter. CIBC Asset Management Inc now owns 435,298 shares of the mining company’s stock worth $942,000 after purchasing an additional 4,000 shares during the period. Barclays PLC boosted its position in shares of IAMGOLD by 1.9% during the 3rd quarter. Barclays PLC now owns 293,363 shares of the mining company’s stock worth $631,000 after acquiring an additional 5,470 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of IAMGOLD by 0.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 987,468 shares of the mining company’s stock worth $2,140,000 after acquiring an additional 8,485 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of IAMGOLD during the 4th quarter worth about $26,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of IAMGOLD during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

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.