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Iamgold Corporation (NYSE: IAG) downgraded to Hold by HSBC Securities

Tuesday,  Nov 24, 2015  12:25 PM ET by Kristen Bailey

HSBC Securities downgraded Iamgold Corporation (NYSE: IAG) to Hold.
HSBC Securities rated Iamgold Corporation (NYSE: IAG) to Overweight on 11/14/2014, when the price was $1.71.

IAMGOLD Corp is an international gold exploration and mining company based in Canada. It holds a 38% stake in the Sadiola Gold Mine and a 40% stake in the Yatela Gold Mine. Both are located in Mali, West Africa. Measured and indicated resources at Sadiola and Yatela are 5.5 million ounces of gold (including reserves of 5.2 million ounces). Inferred resources are 5.9 million ounces. IAMGOLD is actively exploring highly prospective ground in Africa and South America.

HSBC has refined and refocused its Global Equities organisation, creating a lean and flexible business model built to meet the needs of global issuers and investors today and in the future. Acknowledging the changing demands of clients, we have also refined our research model, moving away from traditional maintenance to focus on long term, thematic research (a two-year-plus horizon) combined with short term (zero to three months), real-time, actionable ideas both for companies and sectors.

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