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

StockNews.com cut shares of IAMGOLD (NYSE:IAG) (TSE:IMG) from a buy rating to a hold rating in a report issued on Thursday morning.

IAG has been the subject of several other reports. Raymond James upgraded shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, IAMGOLD has a consensus rating of “Moderate Buy” and an average price target of $6.57.

IAMGOLD Stock Down 6.6 %

NYSE:IAG opened at $5.45 on Thursday. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 3.76 and a beta of 1.56. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. IAMGOLD has a twelve month low of $2.53 and a twelve month high of $6.69. The stock’s 50 day moving average price is $5.80 and its two-hundred day moving average price is $5.46.

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

Institutional Trading of IAMGOLD

Institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its holdings in shares of IAMGOLD by 5.3% during the fourth quarter. Franklin Resources Inc. now owns 36,156 shares of the mining company’s stock worth $187,000 after buying an additional 1,836 shares in the last quarter. CIBC Asset Management Inc increased its position in IAMGOLD by 0.4% during the fourth quarter. CIBC Asset Management Inc now owns 700,955 shares of the mining company’s stock worth $3,615,000 after acquiring an additional 2,848 shares during the period. Bank of New York Mellon Corp raised its stake in IAMGOLD by 12.7% in the 4th quarter. Bank of New York Mellon Corp now owns 35,046 shares of the mining company’s stock worth $181,000 after purchasing an additional 3,961 shares in the last quarter. Northwest & Ethical Investments L.P. raised its stake in IAMGOLD by 4.6% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 91,623 shares of the mining company’s stock worth $473,000 after purchasing an additional 4,013 shares in the last quarter. Finally, Freedom Investment Management Inc. boosted its holdings in IAMGOLD by 4.2% in the 4th quarter. Freedom Investment Management Inc. now owns 108,747 shares of the mining company’s stock valued at $561,000 after purchasing an additional 4,399 shares during the period. 47.08% of the stock is currently owned by 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.