StockNews.com Downgrades IAMGOLD (NYSE:IAG) to Hold

IAMGOLD (NYSE:IAG) (TSE:IMG) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

IAG has been the topic of a number of other reports. Royal Bank of Canada restated a “sector perform” rating and set a $6.00 target price on shares of IAMGOLD in a research report on Tuesday, October 22nd. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and increased their price objective for the company from $7.75 to $10.50 in a report on Tuesday, October 22nd. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, National Bank Financial upgraded IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.68.

IAMGOLD Trading Up 2.0 %

Shares of NYSE IAG traded up $0.10 during midday trading on Wednesday, hitting $5.16. The stock had a trading volume of 5,103,748 shares, compared to its average volume of 8,756,558. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. IAMGOLD has a fifty-two week low of $2.23 and a fifty-two week high of $6.37. The firm has a market cap of $2.95 billion, a P/E ratio of 4.03 and a beta of 1.56. The company’s 50-day simple moving average is $5.39 and its 200 day simple moving average is $4.89.

Institutional Investors Weigh In On IAMGOLD

Hedge funds have recently modified their holdings of the business. ORG Partners LLC acquired a new stake in IAMGOLD in the 3rd quarter valued at approximately $29,000. Eastern Bank bought a new position in shares of IAMGOLD during the 3rd quarter worth approximately $30,000. TIAA Trust National Association acquired a new stake in shares of IAMGOLD in the second quarter valued at approximately $38,000. WINTON GROUP Ltd bought a new stake in shares of IAMGOLD in the second quarter worth $52,000. Finally, Banque Cantonale Vaudoise bought a new stake in shares of IAMGOLD in the second quarter worth $56,000. 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.