IAMGOLD Co. (NYSE:IAG) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have earned an average rating of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $6.57.

IAG has been the subject of several research analyst reports. Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. CIBC upgraded IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. Raymond James decreased their target price on IAMGOLD from $6.50 to $6.00 and set an “underperform” rating on the stock in a research report on Wednesday, January 15th. StockNews.com cut IAMGOLD from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $6.00 price objective on shares of IAMGOLD in a report on Tuesday, October 22nd.

IAMGOLD Trading Up 2.7 %

Shares of IAMGOLD stock opened at $5.60 on Monday. IAMGOLD has a 1 year low of $2.23 and a 1 year high of $6.37. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 4.37 and a beta of 1.56. The business has a fifty day simple moving average of $5.39 and a two-hundred day simple moving average of $5.05. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61.

Institutional Investors Weigh In On IAMGOLD

A number of large investors have recently bought and sold shares of IAG. BNP Paribas Financial Markets boosted its holdings in shares of IAMGOLD by 368.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,521,670 shares of the mining company’s stock valued at $7,772,000 after purchasing an additional 1,196,564 shares in the last quarter. Semanteon Capital Management LP bought a new stake in shares of IAMGOLD during the 3rd quarter worth $503,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in IAMGOLD by 158.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company’s stock valued at $24,301,000 after buying an additional 2,839,556 shares in the last quarter. Van ECK Associates Corp grew its position in IAMGOLD by 8.8% in 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 acquiring an additional 4,267,084 shares during the last quarter. Finally, U S Global Investors Inc. grew its position in IAMGOLD by 241.6% in the third quarter. U S Global Investors Inc. now owns 854,114 shares of the mining company’s stock valued at $4,467,000 after acquiring an additional 604,114 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

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.