Iamgold (IAG) Rating Lowered to Market Perform at BMO Capital Markets

Iamgold (NYSE:IAG) (TSE:IMG) was downgraded by stock analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued on Friday, Marketbeat reports. They currently have a $2.96 target price on the mining company’s stock. BMO Capital Markets’ target price points to a potential upside of 4.59% from the company’s current price.

Other equities research analysts have also issued reports about the company. ValuEngine raised Iamgold from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Zacks Investment Research raised Iamgold from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research report on Thursday. Credit Suisse Group raised Iamgold from a “neutral” rating to an “outperform” rating in a research report on Wednesday, December 19th. Raymond James decreased their target price on Iamgold from $6.00 to $5.50 and set a “market perform” rating for the company in a research report on Thursday, November 8th. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Iamgold in a research report on Sunday, October 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $5.41.

IAG opened at $2.83 on Friday. The firm has a market cap of $1.41 billion, a PE ratio of 47.17, a P/E/G ratio of 9.84 and a beta of -0.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.31 and a quick ratio of 3.40. Iamgold has a fifty-two week low of $2.75 and a fifty-two week high of $6.52.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Tuesday, November 6th. The mining company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $244.80 million during the quarter, compared to analyst estimates of $266.17 million. Iamgold had a positive return on equity of 1.14% and a negative net margin of 0.98%. The company’s revenue was down 8.9% compared to the same quarter last year. During the same period last year, the company posted $0.07 EPS. Equities research analysts forecast that Iamgold will post 0.11 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of IAG. HRT Financial LLC acquired a new stake in shares of Iamgold in the third quarter worth $154,000. Sowell Financial Services LLC purchased a new stake in shares of Iamgold during the third quarter worth $184,000. Tower Research Capital LLC TRC raised its holdings in shares of Iamgold by 82.1% during the third quarter. Tower Research Capital LLC TRC now owns 64,118 shares of the mining company’s stock worth $237,000 after acquiring an additional 28,902 shares in the last quarter. Virtu Financial LLC raised its holdings in shares of Iamgold by 7.9% during the fourth quarter. Virtu Financial LLC now owns 74,149 shares of the mining company’s stock worth $273,000 after acquiring an additional 5,407 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Iamgold during the third quarter worth $295,000. 55.41% of the stock is owned by institutional investors and hedge funds.

About Iamgold

IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. It also explores for copper and silver. The company owns interests in the Rosebel gold mine located in north eastern Suriname, South America; the Essakane gold mine in north-eastern Burkina Faso, West Africa; the Westwood gold mine in southwestern Québec, Canada; and the Sadiola Gold Mine located in southwest Mali, West Africa.

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