Iamgold (NYSE:IAG) (TSE:IMG) had its price objective reduced by equities researchers at Royal Bank of Canada from $5.00 to $3.25 in a report issued on Tuesday, BayStreet.CA reports. The firm presently has a “sector perform” rating on the mining company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 33.20% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the stock. Raymond James reiterated a “market perform” rating and set a $4.00 price objective on shares of Iamgold in a research note on Wednesday, May 8th. Canaccord Genuity downgraded shares of Iamgold from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. BMO Capital Markets downgraded shares of Iamgold from an “outperform” rating to a “market perform” rating in a research note on Monday, May 6th. ValuEngine downgraded shares of Iamgold from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Finally, Zacks Investment Research downgraded shares of Iamgold from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. Iamgold currently has a consensus rating of “Hold” and an average target price of $4.18.

IAG opened at $2.44 on Tuesday. The company has a quick ratio of 3.11, a current ratio of 4.18 and a debt-to-equity ratio of 0.14. Iamgold has a 52-week low of $2.33 and a 52-week high of $6.33. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 40.67, a price-to-earnings-growth ratio of 20.72 and a beta of -0.41.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Wednesday, February 20th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.02). Iamgold had a negative return on equity of 0.43% and a negative net margin of 10.67%. The business had revenue of $274.30 million for the quarter, compared to analysts’ expectations of $273.84 million. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. Iamgold’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, research analysts predict that Iamgold will post 0.04 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of IAG. LPL Financial LLC raised its holdings in shares of Iamgold by 4.2% during the fourth quarter. LPL Financial LLC now owns 98,876 shares of the mining company’s stock worth $364,000 after purchasing an additional 4,000 shares during the period. 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 purchasing an additional 5,407 shares during the period. Advisor Group Inc. raised its holdings in shares of Iamgold by 18.1% during the first quarter. Advisor Group Inc. now owns 43,533 shares of the mining company’s stock worth $150,000 after purchasing an additional 6,674 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Iamgold by 3.2% during the fourth quarter. CIBC Asset Management Inc now owns 255,886 shares of the mining company’s stock worth $939,000 after purchasing an additional 7,896 shares during the period. Finally, Smithbridge Asset Management Inc. DE acquired a new stake in shares of Iamgold during the first quarter worth $35,000. 59.04% of the stock is currently owned by hedge funds and other institutional investors.

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.

Featured Story: How is the discount rate different from the Federal Funds rate?

Analyst Recommendations for Iamgold (NYSE:IAG)

Receive News & Ratings for Iamgold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iamgold and related companies with MarketBeat.com's FREE daily email newsletter.