IAMGOLD (NYSE:IAG) Upgraded at StockNews.com

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

A number of other analysts have also recently issued reports on IAG. Scotiabank raised their price objective on IAMGOLD from $3.25 to $3.75 and gave the company a sector perform rating in a research report on Thursday, April 18th. CIBC lifted their price target on IAMGOLD from $3.00 to $3.10 and gave the stock a neutral rating in a report on Wednesday, February 7th. BMO Capital Markets lifted their price target on IAMGOLD from $4.00 to $4.25 and gave the stock an outperform rating in a report on Friday, April 5th. Finally, National Bank Financial reissued a sector perform spec overwgt rating on shares of IAMGOLD in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $3.55.

IAMGOLD Stock Performance

IAG opened at $3.79 on Friday. IAMGOLD has a 12-month low of $1.99 and a 12-month high of $3.92. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 0.67 and a beta of 1.70. The business has a 50 day moving average of $3.21 and a 200-day moving average of $2.71. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.36.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Thursday, February 15th. The mining company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. The company had revenue of $297.60 million during the quarter. On average, equities research analysts expect that IAMGOLD will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On IAMGOLD

A number of hedge funds have recently added to or reduced their stakes in the stock. Polunin Capital Partners Ltd increased its stake in IAMGOLD by 12.1% during the 1st quarter. Polunin Capital Partners Ltd now owns 8,995,059 shares of the mining company’s stock worth $29,954,000 after acquiring an additional 968,104 shares during the period. Helikon Investments Ltd increased its stake in IAMGOLD by 250.5% during the 1st quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock worth $109,429,000 after acquiring an additional 23,485,183 shares during the period. P Schoenfeld Asset Management LP increased its stake in IAMGOLD by 11.1% during the 4th quarter. P Schoenfeld Asset Management LP now owns 8,234,284 shares of the mining company’s stock worth $20,833,000 after acquiring an additional 822,149 shares during the period. CIBC Asset Management Inc increased its stake in IAMGOLD by 3.4% during the 4th quarter. CIBC Asset Management Inc now owns 449,918 shares of the mining company’s stock worth $1,138,000 after acquiring an additional 14,620 shares during the period. Finally, TD Asset Management Inc increased its stake in IAMGOLD by 2.8% during the 4th quarter. TD Asset Management Inc now owns 1,237,660 shares of the mining company’s stock worth $3,135,000 after acquiring an additional 33,959 shares during the period. Institutional investors own 47.08% of the company’s stock.

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.