IAMGOLD (NYSE:IAG) Downgraded by StockNews.com to Hold

StockNews.com cut shares of IAMGOLD (NYSE:IAG) (TSE:IMG) from a buy rating to a hold rating in a research report released on Wednesday morning.

Several other equities analysts have also recently issued reports on IAG. National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating and raised their price objective for the stock from $7.75 to $10.50 in a research note on Tuesday, October 22nd. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Finally, CIBC raised shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. 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 company’s stock. Based on data from MarketBeat.com, IAMGOLD presently has an average rating of “Moderate Buy” and a consensus price target of $6.68.

IAMGOLD Stock Down 1.3 %

IAMGOLD stock opened at $5.51 on Wednesday. The business’s 50-day simple moving average is $5.38 and its two-hundred day simple moving average is $4.91. The company has a market cap of $3.15 billion, a PE ratio of 4.30 and a beta of 1.56. IAMGOLD has a fifty-two week low of $2.23 and a fifty-two week high of $6.37. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IAG. ORG Partners LLC acquired a new stake in shares of IAMGOLD in the third quarter valued at $29,000. Eastern Bank purchased a new position in shares of IAMGOLD in the third quarter valued at approximately $30,000. TIAA Trust National Association acquired a new position in shares of IAMGOLD in the second quarter valued at approximately $38,000. WINTON GROUP Ltd purchased a new stake in shares of IAMGOLD during the second quarter worth $52,000. Finally, Banque Cantonale Vaudoise purchased a new position in IAMGOLD in the second quarter valued at $56,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

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.