Iamgold (NYSE:IAG) Downgraded to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Iamgold (NYSE:IAG) (TSE:IMG) from a strong-buy rating to a hold rating in a research report report published on Tuesday,Zacks.com reports.

Several other research firms also recently weighed in on IAG. CIBC lifted their price target on shares of Iamgold from $10.40 to $19.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a research note on Wednesday, October 8th. Wall Street Zen raised Iamgold from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Stifel Nicolaus upgraded Iamgold from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Finally, Raymond James Financial raised their price objective on Iamgold from $9.00 to $13.00 and gave the company a “market perform” rating in a research note on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $15.25.

Iamgold Trading Up 3.0%

IAG stock traded up $0.58 during mid-day trading on Tuesday, reaching $19.84. The company’s stock had a trading volume of 2,588,006 shares, compared to its average volume of 8,184,341. Iamgold has a 12 month low of $5.02 and a 12 month high of $20.40. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average price is $16.02 and its 200 day moving average price is $12.19. The company has a market cap of $11.73 billion, a price-to-earnings ratio of 32.95, a price-to-earnings-growth ratio of 0.27 and a beta of 1.38.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.21 by $0.09. The company had revenue of $714.61 million during the quarter, compared to the consensus estimate of $759.45 million. Iamgold had a net margin of 15.39% and a return on equity of 10.39%. On average, equities research analysts predict that Iamgold will post 0.67 EPS for the current year.

Institutional Trading of Iamgold

Institutional investors and hedge funds have recently modified their holdings of the stock. Tsfg LLC purchased a new position in shares of Iamgold during the third quarter valued at approximately $26,000. FNY Investment Advisers LLC purchased a new stake in Iamgold in the 4th quarter valued at $38,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Iamgold in the 4th quarter valued at $57,000. Aventura Private Wealth LLC bought a new position in Iamgold during the 4th quarter valued at $58,000. Finally, Banque Transatlantique SA purchased a new position in Iamgold during the 2nd quarter worth $26,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

About Iamgold

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.