IAMGOLD (NYSE:IAG) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of IAMGOLD (NYSE:IAG – Get Rating) (TSE:IMG) in a research note published on Thursday morning. The brokerage issued a sell rating on the mining company’s stock.

A number of other analysts also recently commented on IAG. CIBC raised IAMGOLD from a sector underperform rating to a neutral rating and set a $2.10 price objective on the stock in a research note on Tuesday, December 20th. TD Securities boosted their target price on IAMGOLD from C$3.25 to C$4.00 in a research report on Wednesday, December 21st. BMO Capital Markets boosted their target price on IAMGOLD from $1.75 to $2.00 and gave the stock a market perform rating in a research report on Tuesday, December 20th. Canaccord Genuity Group raised IAMGOLD from a sell rating to a hold rating and boosted their target price for the stock from $1.50 to $3.00 in a research report on Tuesday, December 20th. Finally, Stifel Nicolaus raised IAMGOLD from a sell rating to a hold rating in a research report on Tuesday, December 20th. Five analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $2.68.

IAMGOLD Stock Performance

IAG opened at $2.49 on Thursday. IAMGOLD has a one year low of $0.92 and a one year high of $3.77. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.35 and a quick ratio of 2.04. The stock’s fifty day moving average is $2.53 and its 200-day moving average is $1.96.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Continuum Advisory LLC grew its holdings in shares of IAMGOLD by 34.2% during the fourth quarter. Continuum Advisory LLC now owns 19,600 shares of the mining company’s stock valued at $51,000 after buying an additional 5,000 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in IAMGOLD by 23.0% in the first quarter. Great West Life Assurance Co. Can now owns 36,927 shares of the mining company’s stock valued at $137,000 after purchasing an additional 6,913 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in IAMGOLD by 14.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,349 shares of the mining company’s stock valued at $157,000 after purchasing an additional 7,890 shares in the last quarter. Citigroup Inc. purchased a new position in IAMGOLD in the first quarter valued at about $31,000. Finally, HBK Sorce Advisory LLC purchased a new position in IAMGOLD in the fourth quarter valued at about $28,000. Hedge funds and other institutional investors own 48.57% of the company’s stock.

IAMGOLD Company Profile

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IAMGOLD Corp. engages in the exploration, development and production of gold and mineral resource properties. It owns and operates the Westwood mine in Quebec and the Cote Gold project, a development project located in Ontario. The firm also operates the Rosebel mine in Suriname, the Essakane mine in Burkina Faso, the Saramacca project, an exploration project located in Suriname, the Boto project, an exploration project located in Senegal.