Iamgold (NYSE:IAG) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Iamgold (NYSE:IAG) (TSE:IMG) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

IAG has been the topic of a number of other reports. Royal Bank Of Canada lowered their target price on shares of Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Weiss Ratings cut shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. Scotiabank dropped their price objective on shares of Iamgold from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Finally, Bank of America reduced their target price on shares of Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Iamgold Stock Up 0.5%

Iamgold stock opened at $18.42 on Friday. Iamgold has a fifty-two week low of $7.11 and a fifty-two week high of $24.87. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.05 and a current ratio of 1.71. The company has a market capitalization of $10.58 billion, a P/E ratio of 9.30, a PEG ratio of 0.81 and a beta of 1.32. The stock has a 50-day simple moving average of $15.76 and a 200-day simple moving average of $18.09.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, August 6th. The mining company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The firm had revenue of $845.97 million for the quarter, compared to the consensus estimate of $882.92 million. Iamgold had a return on equity of 28.97% and a net margin of 31.40%. Equities research analysts expect that Iamgold will post 1.98 earnings per share for the current year.

Institutional Trading of Iamgold

Several hedge funds have recently modified their holdings of the business. Banque Transatlantique SA acquired a new position in Iamgold during the second quarter worth $26,000. Pin Oak Investment Advisors Inc. acquired a new stake in Iamgold in the fourth quarter valued at $30,000. Global Retirement Partners LLC purchased a new stake in shares of Iamgold during the 4th quarter worth $33,000. Western Wealth Management LLC purchased a new stake in shares of Iamgold during the 1st quarter worth $43,000. Finally, LOM Asset Management Ltd purchased a new stake in shares of Iamgold during the 4th quarter worth $49,000. 47.08% of the stock is owned by institutional investors and hedge funds.

Iamgold Company Profile

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.