IAMGOLD Co. (TSE:IMG) Receives Consensus Recommendation of “Buy” from Analysts

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) has received a consensus rating of “Buy” from the six analysts that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$7.29.

A number of analysts have weighed in on IMG shares. Stifel Nicolaus increased their target price on IAMGOLD from C$6.00 to C$9.00 in a research note on Monday, October 21st. Royal Bank of Canada lowered shares of IAMGOLD from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. National Bankshares lifted their price target on IAMGOLD from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, National Bank Financial raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th.

IAMGOLD Price Performance

TSE IMG opened at C$7.79 on Thursday. IAMGOLD has a 52 week low of C$2.87 and a 52 week high of C$8.80. The company has a 50-day moving average price of C$7.29 and a 200-day moving average price of C$6.25. The company has a quick ratio of 1.19, a current ratio of 1.34 and a debt-to-equity ratio of 35.17. The firm has a market capitalization of C$4.44 billion, a P/E ratio of 24.34, a PEG ratio of -0.28 and a beta of 1.47.

Insider Activity at IAMGOLD

In related news, Director Renaud Adams purchased 36,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were bought at an average price of C$6.95 per share, for a total transaction of C$250,102.80. Also, Senior Officer Bruno Lemelin sold 14,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of C$7.09, for a total value of C$99,206.80. 0.10% of the stock is currently owned by corporate 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.