Iamgold (IAG) Cut to “C+” at TheStreet

Iamgold (NYSE:IAG) (TSE:IMG) was downgraded by equities research analysts at TheStreet from a “b” rating to a “c+” rating in a report released on Thursday, November 16th.

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

Iamgold (NYSE:IAG) traded down $0.10 during midday trading on Thursday, hitting $5.27. The stock had a trading volume of 2,672,165 shares, compared to its average volume of 6,946,002. Iamgold has a 12 month low of $3.16 and a 12 month high of $7.25. The company has a market cap of $2,460.00, a PE ratio of 53.70, a price-to-earnings-growth ratio of 21.06 and a beta of -0.57. The company has a quick ratio of 3.85, a current ratio of 4.78 and a debt-to-equity ratio of 0.14.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IAG. AGF Investments Inc. boosted its position in shares of Iamgold by 1,868.1% during the second quarter. AGF Investments Inc. now owns 213,600 shares of the mining company’s stock valued at $1,102,000 after buying an additional 202,747 shares during the last quarter. Heartland Advisors Inc. boosted its position in shares of Iamgold by 372.1% during the third quarter. Heartland Advisors Inc. now owns 3,634,511 shares of the mining company’s stock valued at $22,222,000 after buying an additional 2,864,661 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new stake in shares of Iamgold during the second quarter valued at $4,103,000. Tocqueville Asset Management L.P. boosted its position in shares of Iamgold by 21.1% during the third quarter. Tocqueville Asset Management L.P. now owns 8,294,577 shares of the mining company’s stock valued at $50,597,000 after buying an additional 1,444,277 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Iamgold by 1.6% during the third quarter. Van ECK Associates Corp now owns 56,732,518 shares of the mining company’s stock valued at $346,069,000 after buying an additional 880,887 shares during the last quarter. 56.06% of the stock is currently owned by hedge funds and other institutional investors.

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Iamgold 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 (NYSE:IAG)

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