IAMGOLD (NYSE:IAG) Cut to “Hold” at StockNews.com

IAMGOLD (NYSE:IAGGet Free Report) (TSE:IMG) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Several other brokerages have also commented on IAG. National Bank Financial upgraded IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. CIBC upgraded IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $6.00 target price on shares of IAMGOLD in a research report on Tuesday, October 22nd. Finally, Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $6.57.

Check Out Our Latest Analysis on IAMGOLD

IAMGOLD Price Performance

IAG stock opened at $5.46 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 4.26 and a beta of 1.56. The company’s fifty day simple moving average is $5.39 and its 200 day simple moving average is $5.02. IAMGOLD has a 12-month low of $2.23 and a 12-month high of $6.37.

Institutional Trading of IAMGOLD

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IAG. JPMorgan Chase & Co. boosted its position in shares of IAMGOLD by 66.6% during the third quarter. JPMorgan Chase & Co. now owns 1,511,328 shares of the mining company’s stock valued at $7,904,000 after buying an additional 604,259 shares during the last quarter. Virtu Financial LLC purchased a new position in IAMGOLD during the 3rd quarter worth $267,000. Toronto Dominion Bank grew its stake in shares of IAMGOLD by 15.6% in the 3rd quarter. Toronto Dominion Bank now owns 274,377 shares of the mining company’s stock worth $1,435,000 after acquiring an additional 37,005 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of IAMGOLD by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company’s stock worth $1,392,000 after acquiring an additional 6,874 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of IAMGOLD in the third quarter valued at about $1,083,000. 47.08% of the stock is owned by institutional investors.

IAMGOLD Company Profile

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for IAMGOLD (NYSE:IAG)

Receive News & Ratings for IAMGOLD Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IAMGOLD and related companies with MarketBeat.com's FREE daily email newsletter.