IAMGOLD Co. (TSE:IMG) Given Average Recommendation of “Buy” by Brokerages

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) has been given an average recommendation of “Buy” by the six brokerages that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$8.68.

Several research firms recently commented on IMG. National Bankshares raised their price objective on shares of IAMGOLD from C$12.00 to C$13.50 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Raymond James upgraded IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, February 3rd. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Finally, National Bank Financial upgraded IAMGOLD to a “strong-buy” rating in a research note on Friday, March 21st.

IAMGOLD Trading Down 0.3 %

TSE:IMG opened at C$8.98 on Thursday. The firm’s 50 day moving average is C$8.61 and its 200 day moving average is C$7.89. IAMGOLD has a 12 month low of C$4.70 and a 12 month high of C$9.68. The stock has a market capitalization of C$3.65 billion, a PE ratio of 4.66, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47. The company has a current ratio of 0.89, a quick ratio of 1.19 and a debt-to-equity ratio of 28.93.

Insider Activity

In other news, Director Renaud Adams purchased 35,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average cost of C$8.08 per share, for a total transaction of C$282,660.00. Also, Director Lawrence Peter O’hagan purchased 4,800 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were purchased at an average cost of C$8.11 per share, with a total value of C$38,918.88. Over the last three months, insiders have purchased 45,800 shares of company stock valued at $370,999. 0.10% of the stock is currently owned by insiders.

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.