Zacks Investment Research downgraded shares of IAMGOLD (NYSE:IAG) (TSE:IMG) from a strong-buy rating to a hold rating in a research note published on Tuesday, January 23rd.
According to Zacks, “IAMGOLD Corp is an international gold exploration and mining company based in Canada. It holds a 38% stake in the Sadiola Gold Mine and a 40% stake in the Yatela Gold Mine. Both are located in Mali, West Africa. Measured and indicated resources at Sadiola and Yatela are 5.5 million ounces of gold (including reserves of 5.2 million ounces). Inferred resources are 5.9 million ounces. IAMGOLD is actively exploring highly prospective ground in Africa and South America. “
Other analysts have also issued reports about the company. Scotiabank restated a hold rating on shares of IAMGOLD in a research note on Tuesday, November 14th. Canaccord Genuity upgraded IAMGOLD from a hold rating to a buy rating in a research note on Wednesday, January 17th. Desjardins restated a buy rating on shares of IAMGOLD in a research note on Monday, December 11th. BMO Capital Markets reiterated a buy rating and issued a $8.00 price objective on shares of IAMGOLD in a research report on Wednesday, November 8th. Finally, CIBC set a $7.50 price objective on IAMGOLD and gave the stock an outperform rating in a research report on Wednesday, January 17th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. IAMGOLD has a consensus rating of Hold and a consensus target price of $7.07.
Shares of IAMGOLD (NYSE:IAG) traded up $0.53 during midday trading on Tuesday, hitting $6.14. The company’s stock had a trading volume of 7,618,343 shares, compared to its average volume of 5,001,896. The company has a market capitalization of $2,780.00, a PE ratio of 5.63, a PEG ratio of 40.15 and a beta of -0.31. IAMGOLD has a 12 month low of $3.36 and a 12 month high of $7.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.85 and a current ratio of 4.78.
Several institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp grew its position in shares of IAMGOLD by 1.6% during the 3rd quarter. Van ECK Associates Corp now owns 56,732,518 shares of the mining company’s stock worth $346,069,000 after buying an additional 880,887 shares during the period. Donald Smith & CO. Inc. grew its position in shares of IAMGOLD by 5.5% during the 4th quarter. Donald Smith & CO. Inc. now owns 44,236,577 shares of the mining company’s stock worth $257,899,000 after buying an additional 2,288,037 shares during the period. Renaissance Technologies LLC grew its position in shares of IAMGOLD by 13.9% during the 4th quarter. Renaissance Technologies LLC now owns 27,774,896 shares of the mining company’s stock worth $161,930,000 after buying an additional 3,382,000 shares during the period. Vanguard Group Inc. lifted its holdings in shares of IAMGOLD by 9.7% during the 2nd quarter. Vanguard Group Inc. now owns 9,492,363 shares of the mining company’s stock valued at $48,980,000 after purchasing an additional 838,766 shares in the last quarter. Finally, Tocqueville Asset Management L.P. lifted its holdings in shares of IAMGOLD by 21.1% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 8,294,577 shares of the mining company’s stock valued at $50,597,000 after purchasing an additional 1,444,277 shares in the last quarter. Institutional investors own 55.30% of the company’s stock.
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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.
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