Iamgold (NYSE:IAG) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen lowered shares of Iamgold (NYSE:IAG) (TSE:IMG) from a strong-buy rating to a buy rating in a research note released on Saturday.

Other equities research analysts have also issued reports about the company. Zacks Research lowered Iamgold from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Weiss Ratings downgraded Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th. Bank of America dropped their price target on shares of Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Scotiabank reduced their price objective on shares of Iamgold from $25.00 to $22.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Finally, Royal Bank Of Canada decreased their price objective on shares of Iamgold from $22.00 to $20.00 and set an “outperform” 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 issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Iamgold Trading Down 0.6%

Shares of NYSE:IAG opened at $14.64 on Friday. The stock has a market capitalization of $8.41 billion, a PE ratio of 8.51, a P/E/G ratio of 0.65 and a beta of 1.30. Iamgold has a 1 year low of $6.69 and a 1 year high of $24.87. The firm has a fifty day moving average price of $16.08 and a 200 day moving average price of $18.24. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $955.17 million. Iamgold had a return on equity of 26.65% and a net margin of 29.49%. Analysts expect that Iamgold will post 1.98 EPS for the current fiscal year.

Institutional Trading of Iamgold

Several hedge funds have recently added to or reduced their stakes in the business. Mariner LLC grew its position in Iamgold by 0.6% during the 4th quarter. Mariner LLC now owns 110,033 shares of the mining company’s stock worth $1,814,000 after acquiring an additional 615 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in Iamgold by 1.9% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 37,000 shares of the mining company’s stock worth $612,000 after purchasing an additional 700 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Iamgold by 73.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,712 shares of the mining company’s stock worth $51,000 after purchasing an additional 1,150 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Iamgold by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company’s stock worth $2,849,000 after purchasing an additional 1,303 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. grew its holdings in shares of Iamgold by 0.4% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company’s stock worth $5,716,000 after purchasing an additional 1,424 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

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.