IAMGOLD (NYSE:IAG) Stock Rating Upgraded by StockNews.com

IAMGOLD (NYSE:IAG) (TSE:IMG) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Other research analysts have also issued reports about the stock. National Bank Financial upgraded shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. CIBC upgraded shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and boosted their price target for the company from $7.75 to $10.50 in a research report 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, Raymond James upgraded shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $6.57.

IAMGOLD Stock Down 0.9 %

IAMGOLD stock opened at $6.41 on Thursday. IAMGOLD has a 1-year low of $2.32 and a 1-year high of $6.64. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 5.00 and a beta of 1.56. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The firm has a 50 day simple moving average of $5.59 and a 200 day simple moving average of $5.23.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Thursday, November 7th. The mining company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. IAMGOLD had a net margin of 49.56% and a return on equity of 10.01%. The business had revenue of $438.90 million during the quarter. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. On average, analysts predict that IAMGOLD will post 0.58 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew its position in IAMGOLD by 8.8% in the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock worth $276,639,000 after acquiring an additional 4,267,084 shares in the last quarter. Two Sigma Advisers LP lifted its stake in IAMGOLD by 58.8% in the third quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company’s stock worth $52,735,000 after purchasing an additional 3,732,315 shares during the last quarter. FMR LLC lifted its stake in IAMGOLD by 107.9% in the third quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock worth $46,174,000 after purchasing an additional 4,577,599 shares during the last quarter. Bank of Montreal Can lifted its stake in IAMGOLD by 130.6% in the third quarter. Bank of Montreal Can now owns 5,384,778 shares of the mining company’s stock worth $28,385,000 after purchasing an additional 3,049,252 shares during the last quarter. Finally, Cibc World Market Inc. lifted its stake in IAMGOLD by 54.0% in the fourth quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company’s stock worth $26,452,000 after purchasing an additional 1,795,869 shares during the last quarter. 47.08% of the stock is currently 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.