Iamgold (NYSE:IAG) (TSE:IMG) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

Several other research firms have also issued reports on IAG. TheStreet lowered shares of Iamgold from a “b” rating to a “c-” rating in a research report on Friday, August 10th. Canaccord Genuity reaffirmed a “buy” rating on shares of Iamgold in a research report on Sunday, October 21st. Zacks Investment Research lowered shares of Iamgold from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th. Royal Bank of Canada set a $6.00 price target on shares of Iamgold and gave the stock a “hold” rating in a research report on Thursday, October 11th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $7.00 price objective on shares of Iamgold in a research report on Friday, September 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $6.68.

NYSE IAG opened at $2.94 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.40 and a current ratio of 4.31. Iamgold has a 1 year low of $2.92 and a 1 year high of $6.52. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 49.00, a PEG ratio of 8.28 and a beta of -0.19.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Tuesday, November 6th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). Iamgold had a negative net margin of 0.98% and a positive return on equity of 1.14%. The firm had revenue of $244.80 million for the quarter, compared to analyst estimates of $266.17 million. During the same period in the prior year, the firm posted $0.07 earnings per share. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. Equities research analysts anticipate that Iamgold will post 0.13 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Van ECK Associates Corp raised its position in shares of Iamgold by 4.7% in the second quarter. Van ECK Associates Corp now owns 64,001,511 shares of the mining company’s stock valued at $371,849,000 after purchasing an additional 2,862,271 shares during the period. United Services Automobile Association raised its position in shares of Iamgold by 6.4% in the second quarter. United Services Automobile Association now owns 2,256,500 shares of the mining company’s stock valued at $13,110,000 after purchasing an additional 136,300 shares during the period. Tocqueville Asset Management L.P. raised its position in shares of Iamgold by 1.1% in the second quarter. Tocqueville Asset Management L.P. now owns 8,339,177 shares of the mining company’s stock valued at $48,451,000 after purchasing an additional 94,600 shares during the period. Trexquant Investment LP acquired a new position in shares of Iamgold in the second quarter valued at about $655,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Iamgold in the second quarter valued at about $1,677,000. 53.53% of the stock is currently owned by institutional investors.

Iamgold Company Profile

IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. It also explores for copper and silver. The company owns interests in the Rosebel gold mine located in north eastern Suriname, South America; the Essakane gold mine in north-eastern Burkina Faso, West Africa; the Westwood gold mine in southwestern Qu├ębec, Canada; and the Sadiola Gold Mine located in southwest Mali, West Africa.

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Analyst Recommendations for Iamgold (NYSE:IAG)

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