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

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) has received a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $6.57.

IAG has been the topic of several analyst reports. Raymond James upgraded shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, February 3rd. StockNews.com upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Royal Bank of Canada restated a “sector perform” rating and set a $6.00 price target on shares of IAMGOLD in a report on Tuesday, October 22nd. Finally, Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and boosted their target price for the company from $7.75 to $10.50 in a research note on Tuesday, October 22nd.

Institutional Trading of IAMGOLD

Several hedge funds and other institutional investors have recently modified their holdings of IAG. Tobam bought a new stake in shares of IAMGOLD in the fourth quarter valued at approximately $25,000. ORG Partners LLC bought a new stake in shares of IAMGOLD in the third quarter valued at approximately $29,000. Eastern Bank bought a new stake in shares of IAMGOLD in the third quarter valued at approximately $30,000. Blue Trust Inc. raised its position in shares of IAMGOLD by 157.1% in the fourth quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock valued at $47,000 after purchasing an additional 5,511 shares during the period. Finally, Raab & Moskowitz Asset Management LLC bought a new stake in shares of IAMGOLD in the fourth quarter valued at approximately $56,000. Institutional investors own 47.08% of the company’s stock.

IAMGOLD Stock Down 1.1 %

IAMGOLD stock opened at $6.54 on Friday. IAMGOLD has a fifty-two week low of $2.35 and a fifty-two week high of $6.69. The stock has a market cap of $3.73 billion, a PE ratio of 5.11 and a beta of 1.56. The firm’s 50-day simple moving average is $5.66 and its 200 day simple moving average is $5.30. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89.

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.