IAMGOLD Co. (NYSE:IAG) Given Average Rating of “Moderate Buy” by Brokerages

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have earned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $6.68.

Several brokerages have issued reports on IAG. Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and boosted their price objective for the company from $7.75 to $10.50 in a report on Tuesday, October 22nd. CIBC upgraded IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Monday, November 11th.

IAMGOLD Price Performance

IAG stock opened at $5.15 on Thursday. The stock has a market cap of $2.94 billion, a PE ratio of 4.02 and a beta of 1.56. IAMGOLD has a 12 month low of $2.23 and a 12 month high of $6.37. The company has a 50-day moving average price of $5.46 and a 200 day moving average price of $4.83. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24.

Institutional Trading of IAMGOLD

Several institutional investors and hedge funds have recently made changes to their positions in IAG. ORG Partners LLC purchased a new position in IAMGOLD during the 3rd quarter valued at about $29,000. Eastern Bank bought a new position in shares of IAMGOLD during the third quarter valued at approximately $30,000. Aigen Investment Management LP increased its holdings in IAMGOLD by 10.6% during the third quarter. Aigen Investment Management LP now owns 70,244 shares of the mining company’s stock valued at $368,000 after buying an additional 6,704 shares during the period. Geode Capital Management LLC raised its stake in IAMGOLD by 2.7% in the third quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company’s stock worth $1,392,000 after buying an additional 6,874 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in IAMGOLD by 3.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company’s stock worth $1,154,000 after buying an additional 8,972 shares during the period. 47.08% of the stock is currently owned by institutional investors.

About IAMGOLD

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.