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

StockNews.com upgraded shares of IAMGOLD (NYSE:IAG) (TSE:IMG) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

Other research analysts also recently issued reports about the company. National Bank Financial reaffirmed a sector perform spec overwgt rating on shares of IAMGOLD in a research note on Wednesday, January 3rd. CIBC boosted their price target on IAMGOLD from $3.00 to $3.10 and gave the stock a neutral rating in a research report on Wednesday, February 7th. Finally, BMO Capital Markets boosted their price target on IAMGOLD from $4.00 to $4.25 and gave the stock an outperform rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $3.52.

IAMGOLD Trading Down 0.8 %

Shares of IAG stock opened at $3.63 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.77. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 2.20 and a beta of 1.70. The stock has a 50 day simple moving average of $2.91 and a 200-day simple moving average of $2.58. IAMGOLD has a 1-year low of $1.99 and a 1-year high of $3.81.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. The business had revenue of $297.60 million during the quarter. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. On average, equities research analysts expect that IAMGOLD will post 0.04 EPS for the current fiscal year.

Institutional Trading of IAMGOLD

Several large investors have recently made changes to their positions in IAG. JPMorgan Chase & Co. grew its holdings in IAMGOLD by 416.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,430,863 shares of the mining company’s stock valued at $8,459,000 after buying an additional 1,960,562 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in IAMGOLD by 2.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 488,427 shares of the mining company’s stock valued at $1,700,000 after buying an additional 11,047 shares in the last quarter. Private Advisor Group LLC purchased a new stake in IAMGOLD in the 1st quarter valued at $41,000. Citigroup Inc. purchased a new stake in IAMGOLD in the 1st quarter valued at $31,000. Finally, Great West Life Assurance Co. Can grew its holdings in IAMGOLD by 23.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 36,927 shares of the mining company’s stock valued at $137,000 after buying an additional 6,913 shares in the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

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.