Iamgold Corporation (NYSE:IAG) (TSE:IMG) was downgraded by equities researchers at TheStreet from a “b” rating to a “c+” rating in a report issued on Thursday.

Other research analysts have also recently issued reports about the company. Zacks Investment Research raised Iamgold Corporation from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a report on Tuesday, August 1st. BidaskClub raised Iamgold Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. BMO Capital Markets reaffirmed a “buy” rating and issued a $8.00 price target on shares of Iamgold Corporation in a report on Monday, October 2nd. Canaccord Genuity cut Iamgold Corporation from a “buy” rating to a “hold” rating and set a $8.07 price target for the company. in a report on Friday, September 29th. Finally, ValuEngine raised Iamgold Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $7.10.

Shares of Iamgold Corporation (NYSE:IAG) opened at $5.75 on Thursday. Iamgold Corporation has a 52 week low of $3.16 and a 52 week high of $7.25. The company has a quick ratio of 3.85, a current ratio of 4.78 and a debt-to-equity ratio of 0.14. The company has a market cap of $2,680.00, a price-to-earnings ratio of 57.80, a PEG ratio of 22.67 and a beta of -0.53.

Iamgold Corporation (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Tuesday, November 7th. The mining company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.05. Iamgold Corporation had a return on equity of 1.81% and a net margin of 48.66%. The business had revenue of $268.80 million during the quarter, compared to analysts’ expectations of $268.62 million. During the same period in the previous year, the business posted $0.05 earnings per share. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. sell-side analysts expect that Iamgold Corporation will post 0.09 earnings per share for the current fiscal year.

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Several hedge funds have recently made changes to their positions in IAG. Russell Frank Co increased its stake in shares of Iamgold Corporation by 285.1% in the 4th quarter. Russell Frank Co now owns 1,062,467 shares of the mining company’s stock valued at $1,545,000 after acquiring an additional 786,546 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co grew its position in shares of Iamgold Corporation by 8.3% in the 4th quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 327,050 shares of the mining company’s stock valued at $466,000 after purchasing an additional 25,000 shares during the period. Hexavest Inc. grew its position in shares of Iamgold Corporation by 1.4% in the 4th quarter. Hexavest Inc. now owns 13,765,245 shares of the mining company’s stock valued at $19,543,000 after purchasing an additional 186,077 shares during the period. Bank of Montreal Can grew its position in shares of Iamgold Corporation by 45.7% in the 4th quarter. Bank of Montreal Can now owns 3,709,330 shares of the mining company’s stock valued at $5,267,000 after purchasing an additional 1,164,286 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Iamgold Corporation by 2.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,567,824 shares of the mining company’s stock valued at $20,660,000 after purchasing an additional 383,900 shares during the period. 54.13% of the stock is owned by institutional investors.

Iamgold Corporation Company Profile

IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.

Analyst Recommendations for Iamgold Corporation (NYSE:IAG)

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