StockNews.com downgraded shares of IAMGOLD (NYSE:IAG – Free Report) (TSE:IMG) from a hold rating to a sell rating in a research note issued to investors on Monday morning.
IAG has been the topic of a number of other research reports. Scotiabank raised their price target on IAMGOLD from $4.25 to $4.50 and gave the stock a sector perform rating in a report on Thursday, June 6th. CIBC lowered their price target on IAMGOLD from $5.00 to $4.80 and set a neutral rating on the stock in a report on Friday, June 7th. BMO Capital Markets reissued an outperform rating and set a $5.00 price target on shares of IAMGOLD in a report on Thursday, June 6th. Finally, National Bank Financial reissued a sector perform spec overwgt rating on shares of IAMGOLD in a report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, IAMGOLD currently has an average rating of Hold and an average price target of $4.01.
View Our Latest Stock Report on IAMGOLD
IAMGOLD Stock Up 3.5 %
IAMGOLD (NYSE:IAG – Get Free Report) (TSE:IMG) last posted its earnings results on Thursday, May 9th. The mining company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.09. IAMGOLD had a return on equity of 3.17% and a net margin of 12.48%. The business had revenue of $338.90 million for the quarter. During the same quarter last year, the firm posted $0.05 EPS. Analysts anticipate that IAMGOLD will post 0.28 EPS for the current year.
Institutional Investors Weigh In On IAMGOLD
A number of institutional investors have recently added to or reduced their stakes in IAG. Qube Research & Technologies Ltd boosted its holdings in IAMGOLD by 54.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 976,698 shares of the mining company’s stock valued at $2,100,000 after purchasing an additional 344,691 shares in the last quarter. Sprott Inc. boosted its stake in shares of IAMGOLD by 888.7% during the 3rd quarter. Sprott Inc. now owns 1,279,400 shares of the mining company’s stock worth $2,751,000 after acquiring an additional 1,150,000 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in shares of IAMGOLD by 0.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 987,468 shares of the mining company’s stock worth $2,140,000 after acquiring an additional 8,485 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of IAMGOLD by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 17,375,017 shares of the mining company’s stock worth $37,356,000 after acquiring an additional 363,051 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of IAMGOLD during the 4th quarter worth approximately $26,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.
About IAMGOLD
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.
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