Iamgold Corporation (NYSE:IAG) (TSE:IMG) was downgraded by investment analysts at Credit Suisse Group to an “underperform” rating in a note issued to investors on Friday.

IAG has been the topic of a number of other reports. National Bank Financial raised shares of Iamgold Corporation from a “sector perform” rating to an “outperform” rating in a report on Wednesday, October 19th. Zacks Investment Research downgraded shares of Iamgold Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 11th. Canaccord Genuity raised shares of Iamgold Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, October 19th. RBC Capital Markets reaffirmed a “hold” rating and issued a $5.00 target price on shares of Iamgold Corporation in a research note on Wednesday, January 4th. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $5.75 target price on shares of Iamgold Corporation in a research note on Tuesday, November 8th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $4.10.

Analyst Recommendations for Iamgold Corporation (NYSE:IAG)

Iamgold Corporation (NYSE:IAG) opened at 4.46 on Friday. The firm’s market cap is $2.01 billion. Iamgold Corporation has a 12 month low of $1.15 and a 12 month high of $5.87. The stock has a 50 day moving average of $3.85 and a 200-day moving average of $4.17.

Iamgold Corporation (NYSE:IAG) last announced its quarterly earnings results on Monday, November 7th. The mining company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. Iamgold Corporation had a negative net margin of 63.53% and a negative return on equity of 2.05%. The firm had revenue of $282.40 million for the quarter, compared to the consensus estimate of $258.10 million. During the same period in the prior year, the firm posted ($0.22) earnings per share. The company’s revenue for the quarter was up 36.0% on a year-over-year basis. Equities research analysts predict that Iamgold Corporation will post $0.03 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp boosted its position in shares of Iamgold Corporation by 12.5% in the second quarter. Van ECK Associates Corp now owns 55,808,621 shares of the mining company’s stock worth $231,048,000 after buying an additional 6,186,956 shares during the last quarter. Donald Smith & CO. Inc. boosted its position in shares of Iamgold Corporation by 279.6% in the third quarter. Donald Smith & CO. Inc. now owns 31,693,908 shares of the mining company’s stock worth $128,360,000 after buying an additional 23,345,461 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Iamgold Corporation by 7.4% in the third quarter. Bank of New York Mellon Corp now owns 13,243,479 shares of the mining company’s stock worth $53,636,000 after buying an additional 910,461 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Iamgold Corporation by 16.8% in the second quarter. Vanguard Group Inc. now owns 6,853,007 shares of the mining company’s stock worth $28,371,000 after buying an additional 986,824 shares during the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of Iamgold Corporation by 36.3% in the third quarter. Schroder Investment Management Group now owns 4,193,017 shares of the mining company’s stock worth $22,223,000 after buying an additional 1,117,700 shares during the last quarter. Institutional investors and hedge funds own 55.13% of the company’s stock.

About Iamgold Corporation

IAMGOLD Corporation (IAMGOLD) is engaged in the exploration, development and production of mineral resource properties across the world. Through its holdings, IAMGOLD has interests in various operations and exploration properties, as well as various royalty interests on mineral resource properties. All gold produced by IAMGOLD is in the form of dore bars, which is sold to gold refineries in North America and Europe.

5 Day Chart for NYSE:IAG

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