IAMGOLD (NYSE:IAG) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of IAMGOLD (NYSE:IAG) (TSE:IMG) from a buy rating to a hold rating in a research report released on Thursday.

Several other brokerages have also recently weighed in on IAG. Raymond James raised shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, CIBC raised shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, IAMGOLD has an average rating of “Moderate Buy” and an average target price of $6.57.

IAMGOLD Price Performance

Shares of NYSE IAG opened at $5.51 on Thursday. The company has a fifty day moving average price of $5.81 and a 200 day moving average price of $5.47. The firm has a market cap of $3.15 billion, a PE ratio of 3.80 and a beta of 1.56. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. IAMGOLD has a 1-year low of $2.56 and a 1-year high of $6.69.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Thursday, February 20th. The mining company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.05). IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. The firm had revenue of $469.90 million for the quarter, compared to analyst estimates of $498.68 million. Research analysts predict that IAMGOLD will post 0.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp raised its holdings in shares of IAMGOLD by 8.8% in the 3rd quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock valued at $276,639,000 after purchasing an additional 4,267,084 shares during the period. Donald Smith & CO. Inc. raised its stake in IAMGOLD by 0.7% in the fourth quarter. Donald Smith & CO. Inc. now owns 31,233,874 shares of the mining company’s stock valued at $161,167,000 after buying an additional 216,751 shares during the period. RCF Management L.L.C. acquired a new stake in shares of IAMGOLD in the fourth quarter valued at approximately $128,174,000. Vanguard Group Inc. boosted its stake in shares of IAMGOLD by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 21,232,871 shares of the mining company’s stock worth $109,741,000 after acquiring an additional 321,458 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of IAMGOLD by 88.4% during the 4th quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company’s stock worth $53,307,000 after acquiring an additional 4,846,254 shares during the last quarter. 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.