Market Overview

UPDATE: Mackie Research Downgrades IAMGOLD to Hold on Disappointing Results

Share:
Related IAG
20 Biggest Mid-Day Losers For Tuesday
22 Stocks Moving In Tuesday's Pre-Market Session
Gold miners sink as metal settles below 50-day moving average (Seeking Alpha)

Mackie Research lowered its rating on IAMGOLD (NYSE: IAG) from Buy to Hold and reduced its price target from $19.50 to $17.

Mackie Research said, "Financial results fall well short of expectations, due more to lower sales: Only 188 Koz of gold was actually sold in 3Q/12, meaning adjusted EPS of $0.16 ($0.21 reported) and cash flow of $0.30 was well below our forecasted $0.26 and $0.42. Hence, while 3Q/12 financial performance will be seen as a disappointment, the short-fall should be recouped in 4Q/12 when gold inventory is sold."

IAMGOLD closed at $1.97 on Wednesday.

Latest Ratings for IAG

DateFirmActionFromTo
Aug 2016RBC CapitalUpgradesSector UnderperformSector Perform
Jul 2016Paradigm CapitalUpgradesHoldBuy
Jun 2016Credit SuisseUpgradesUnderperformNeutral

View More Analyst Ratings for IAG
View the Latest Analyst Ratings

Posted-In: Mackie ResearchAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (IAG)

View Comments and Join the Discussion!