Iamgold Corp (NYSE:IAG) Given Consensus Recommendation of “Hold” by Analysts

Shares of Iamgold Corp (NYSE:IAG) (TSE:IMG) have earned a consensus recommendation of “Hold” from the thirteen analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $3.71.

A number of research firms recently commented on IAG. Zacks Investment Research downgraded Iamgold from a “buy” rating to a “hold” rating in a report on Friday, October 18th. CSFB downgraded Iamgold from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $4.75 to $3.75 in a research note on Thursday, August 8th. Raymond James reissued a “market perform” rating and set a $5.00 price objective on shares of Iamgold in a report on Friday, November 8th. Credit Suisse Group lowered Iamgold from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 8th. Finally, ValuEngine lowered Iamgold from a “sell” rating to a “strong sell” rating in a research report on Friday.

In related news, insider Harmer Peter sold 100,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $7.91, for a total value of $790,700.00.

Hedge funds have recently made changes to their positions in the stock. Brookstone Capital Management bought a new position in Iamgold during the third quarter worth about $38,000. Cetera Advisors LLC acquired a new position in Iamgold during the 2nd quarter valued at about $49,000. Ropes Wealth Advisors LLC bought a new stake in Iamgold during the 3rd quarter worth approximately $72,000. Cerebellum GP LLC purchased a new stake in shares of Iamgold in the third quarter worth approximately $77,000. Finally, Colony Group LLC purchased a new stake in shares of Iamgold in the third quarter worth approximately $79,000. 59.16% of the stock is owned by hedge funds and other institutional investors.

Shares of Iamgold stock traded up $0.07 on Tuesday, hitting $3.66. 2,484,700 shares of the company’s stock traded hands, compared to its average volume of 3,579,944. The firm’s 50-day moving average price is $3.55 and its two-hundred day moving average price is $3.39. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.07 and a quick ratio of 2.98. The stock has a market capitalization of $1.69 billion, a PE ratio of 60.92, a price-to-earnings-growth ratio of 48.27 and a beta of -0.06. Iamgold has a one year low of $2.28 and a one year high of $4.16.

Iamgold Company Profile

IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine in Burkina Faso, West Africa; the Westwood mine in Quebec, Canada; and the Sadiola mine located in Mali, West Africa.

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Analyst Recommendations for Iamgold (NYSE:IAG)

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