IAMGOLD (NYSE:IAG) Sets New 52-Week Low Following Analyst Downgrade

IAMGOLD Co. (NYSE:IAG – Get Rating) (TSE:IMG) shares hit a new 52-week low during trading on Friday after BMO Capital Markets lowered their price target on the stock from $2.75 to $2.00. BMO Capital Markets currently has a market perform rating on the stock. IAMGOLD traded as low as $1.30 and last traded at $1.31, with a volume of 656048 shares changing hands. The stock had previously closed at $1.49.

A number of other research firms also recently weighed in on IAG. Credit Suisse Group downgraded shares of IAMGOLD from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $3.50 to $2.50 in a research report on Wednesday, May 4th. Stifel Nicolaus lowered IAMGOLD from a “hold” rating to a “sell” rating in a research note on Thursday, May 5th. Canaccord Genuity Group downgraded IAMGOLD from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. TD Securities decreased their price objective on IAMGOLD from C$6.50 to C$5.00 in a report on Thursday, May 5th. Finally, StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a report on Wednesday, May 11th. Six research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, IAMGOLD currently has a consensus rating of “Reduce” and a consensus target price of $2.91.

Institutional Trading of IAMGOLD

Institutional investors and hedge funds have recently bought and sold shares of the company. Shell Asset Management Co. boosted its position in shares of IAMGOLD by 26.3% during the 4th quarter. Shell Asset Management Co. now owns 55,182 shares of the mining company’s stock valued at $172,000 after acquiring an additional 11,500 shares during the last quarter. American Century Companies Inc. lifted its position in IAMGOLD by 294.5% during the fourth quarter. American Century Companies Inc. now owns 1,546,594 shares of the mining company’s stock valued at $4,834,000 after purchasing an additional 1,154,548 shares during the last quarter. Atlas Private Wealth Advisors bought a new position in shares of IAMGOLD in the 1st quarter worth $421,000. Bennicas & Associates Inc. raised its position in shares of IAMGOLD by 9.3% during the 1st quarter. Bennicas & Associates Inc. now owns 64,766 shares of the mining company’s stock valued at $225,000 after buying an additional 5,500 shares in the last quarter. Finally, Connor Clark & ​​Lunn Investment Management Ltd. bought a new stake in shares of IAMGOLD during the 4th quarter worth $4,293,000. 49.21% of the stock is currently owned by hedge funds and other institutional investors.

IAMGOLD Price Performance

The company has a market capitalization of $625.04 million, a P/E ratio of -2.48, a P/E/G ratio of 7.12 and a beta of 1.24. The company has a current ratio of 1.57, a quick ratio of 1.07 and a debt-to-equity ratio of 0.19. The business’s fifty day moving average price is $1.77 and its 200-day moving average price is $2.53.

IAMGOLD (NYSE:IAG – Get Rating) (TSE:IMG) last posted its quarterly earnings data on Tuesday, May 3rd. The mining company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $356.60 million during the quarter. IAMGOLD had a positive return on equity of 1.83% and a negative net margin of 19.95%. As a group, sell-side analysts predict that IAMGOLD Co. will post 0.07 earnings per share for the current fiscal year.

IAMGOLD Company Profile

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IAMGOLD Corporation, through its subsidiaries, explores, develops, and operates gold mining properties in North America, South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine located in Burkina Faso and the Boto gold project located in Senegal, West Africa; and Westwood mine, covers an area of ​​1,925 hectares and located in Quebec and the Côté gold project, which covers an area of ​​586 square kilometers located in Ontario, Canada.

Further reading

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