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

IAMGOLD (NYSE:IAG) (TSE:IMG) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

IAG has been the subject of several other reports. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $6.00 target price on shares of IAMGOLD in a research report on Tuesday, October 22nd. Finally, National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, IAMGOLD has a consensus rating of “Moderate Buy” and a consensus target price of $6.68.

IAMGOLD Stock Performance

Shares of IAG stock opened at $5.58 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The firm has a fifty day simple moving average of $5.38 and a two-hundred day simple moving average of $4.89. IAMGOLD has a 12 month low of $2.23 and a 12 month high of $6.37. The firm has a market capitalization of $3.19 billion, a PE ratio of 4.36 and a beta of 1.56.

Institutional Investors Weigh In On IAMGOLD

Several large investors have recently made changes to their positions in the business. ORG Partners LLC purchased a new position in shares of IAMGOLD in the 3rd quarter worth about $29,000. Eastern Bank purchased a new position in IAMGOLD in the third quarter valued at about $30,000. TIAA Trust National Association bought a new position in shares of IAMGOLD during the 2nd quarter valued at approximately $38,000. WINTON GROUP Ltd bought a new position in shares of IAMGOLD during the 2nd quarter valued at approximately $52,000. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of IAMGOLD during the 2nd quarter worth approximately $56,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

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.