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

StockNews.com cut shares of IAMGOLD (NYSE:IAG) (TSE:IMG) from a hold rating to a sell rating in a research note published on Monday morning.

A number of other research analysts have also recently commented on IAG. National Bank Financial reissued a sector perform spec overwgt rating on shares of IAMGOLD in a report on Monday, April 8th. Scotiabank boosted their price target on IAMGOLD from $4.25 to $4.50 and gave the stock a sector perform rating in a report on Thursday, June 6th. BMO Capital Markets reissued an outperform rating and issued a $5.00 price target on shares of IAMGOLD in a report on Thursday, June 6th. Finally, CIBC lowered their price target on IAMGOLD from $5.00 to $4.80 and set a neutral rating on the stock in a report on Friday, June 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $4.01.

IAMGOLD Stock Up 3.5 %

IAG stock opened at $3.81 on Monday. IAMGOLD has a twelve month low of $1.99 and a twelve month high of $4.59. The company has a quick ratio of 0.55, a current ratio of 0.91 and a debt-to-equity ratio of 0.35. The stock has a market cap of $2.17 billion, a P/E ratio of 13.61 and a beta of 1.56. The business’s 50-day moving average price is $3.87 and its 200-day moving average price is $3.21.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Thursday, May 9th. The mining company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.09. IAMGOLD had a return on equity of 3.17% and a net margin of 12.48%. The company had revenue of $338.90 million for the quarter. During the same period in the prior year, the firm posted $0.05 earnings per share. On average, equities research analysts forecast that IAMGOLD will post 0.28 EPS for the current year.

Institutional Trading of IAMGOLD

Several hedge funds have recently modified their holdings of IAG. Public Sector Pension Investment Board increased 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 valued at $2,140,000 after purchasing an additional 8,485 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of IAMGOLD during the 4th quarter valued at approximately $26,000. Dynamic Technology Lab Private Ltd bought a new position in shares of IAMGOLD during the 4th quarter valued at approximately $29,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of IAMGOLD during the 4th quarter valued at approximately $33,000. Finally, Koshinski Asset Management Inc. bought a new position in shares of IAMGOLD during the 4th quarter valued at approximately $34,000. 47.08% of the stock is owned by hedge funds and other 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.