IAMGOLD (NYSE:IAG) Stock Rating Upgraded by StockNews.com

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

Several other research analysts have also 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 dropped their price target on IAMGOLD from $5.00 to $4.80 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Scotiabank raised their target price on shares of IAMGOLD from $4.25 to $4.50 and gave the company a “sector perform” rating in a research report on Thursday, June 6th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $5.00 price target on shares of IAMGOLD in a research report on Thursday, June 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $4.02.

IAMGOLD Price Performance

NYSE IAG opened at $4.19 on Tuesday. The stock’s 50-day moving average is $3.90 and its two-hundred day moving average is $3.26. IAMGOLD has a fifty-two week low of $1.99 and a fifty-two week high of $4.59. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.91 and a quick ratio of 0.55. The firm has a market cap of $2.38 billion, a P/E ratio of 14.95 and a beta of 1.56.

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

Hedge Funds Weigh In On IAMGOLD

Large investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. acquired a new position in shares of IAMGOLD in the fourth quarter valued at about $26,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of IAMGOLD during the 4th quarter worth $29,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of IAMGOLD in the fourth quarter worth about $33,000. Koshinski Asset Management Inc. bought a new stake in shares of IAMGOLD during the fourth quarter worth $34,000. Finally, Cetera Advisors LLC bought a new stake in IAMGOLD during the 1st quarter worth $50,000. 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.