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

StockNews.com lowered shares of IAMGOLD (NYSE:IAG) (TSE:IMG) from a hold rating to a sell rating in a research report sent to investors on Thursday.

Several other equities analysts have also recently issued reports on the company. BMO Capital Markets lifted their price objective on IAMGOLD from $4.00 to $4.25 and gave the company an outperform rating in a research note on Friday, April 5th. CIBC lifted their price objective on IAMGOLD from $3.00 to $3.10 and gave the company a neutral rating in a research note on Wednesday, February 7th. Finally, National Bank Financial reiterated a sector perform spec overwgt rating on shares of IAMGOLD in a research note on Monday, April 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, IAMGOLD currently has a consensus rating of Hold and a consensus target price of $3.55.

IAMGOLD Stock Performance

Shares of IAMGOLD stock opened at $3.66 on Thursday. The business has a 50-day moving average of $3.09 and a 200 day moving average of $2.66. IAMGOLD has a 12 month low of $1.99 and a 12 month high of $3.92. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 19.26, a price-to-earnings-growth ratio of 1.26 and a beta of 1.70. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.77.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its earnings results on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. The company had revenue of $297.60 million during the quarter. As a group, sell-side analysts forecast that IAMGOLD will post 0.06 earnings per share for the current year.

Institutional Investors Weigh In On IAMGOLD

Several hedge funds and other institutional investors have recently made changes to their positions in IAG. Citigroup Inc. acquired a new position in IAMGOLD during the first quarter worth approximately $31,000. Vident Advisory LLC acquired a new position in IAMGOLD during the fourth quarter worth approximately $25,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of IAMGOLD in the fourth quarter valued at approximately $26,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of IAMGOLD in the fourth quarter valued at approximately $29,000. Finally, First Trust Advisors LP acquired a new position in shares of IAMGOLD in the first quarter valued at approximately $40,000. Institutional investors and hedge funds 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.