IAMGOLD Co. (NYSE:IAG) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have been given an average rating of “Moderate Buy” by the eight research firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $6.68.

Several equities analysts have recently commented on the company. CIBC upgraded IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. StockNews.com raised IAMGOLD from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $6.00 price objective on shares of IAMGOLD in a research report on Tuesday, October 22nd. Finally, Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and upped their target price for the stock from $7.75 to $10.50 in a research report on Tuesday, October 22nd.

IAMGOLD Stock Down 0.6 %

IAG opened at $5.15 on Thursday. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 4.02 and a beta of 1.56. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. The firm’s fifty day moving average is $5.46 and its 200 day moving average is $4.83. IAMGOLD has a fifty-two week low of $2.23 and a fifty-two week high of $6.37.

Hedge Funds Weigh In On IAMGOLD

Institutional investors have recently bought and sold shares of the business. Millennium Management LLC raised its position in shares of IAMGOLD by 194.2% during the 2nd quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company’s stock valued at $29,573,000 after buying an additional 5,204,715 shares in the last quarter. FMR LLC increased its stake in IAMGOLD by 107.9% during the third quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock worth $46,174,000 after acquiring an additional 4,577,599 shares during the last quarter. Van ECK Associates Corp raised its position in IAMGOLD by 8.8% during the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock valued at $276,639,000 after purchasing an additional 4,267,084 shares during the period. Two Sigma Advisers LP lifted its stake in shares of IAMGOLD by 58.8% in the 3rd quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company’s stock valued at $52,735,000 after purchasing an additional 3,732,315 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of IAMGOLD by 130.6% in the 3rd quarter. Bank of Montreal Can now owns 5,384,778 shares of the mining company’s stock worth $28,385,000 after purchasing an additional 3,049,252 shares during the period. Institutional investors own 47.08% of the company’s stock.

IAMGOLD Company Profile

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.