Analysts Set IAMGOLD Co. (NYSE:IAG) Price Target at $6.68

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $6.68.

IAG has been the topic of several research analyst reports. CIBC raised shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday. StockNews.com upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. National Bank Financial upgraded IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Finally, Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and upped their price objective for the company from $7.75 to $10.50 in a report on Tuesday, October 22nd.

IAMGOLD Price Performance

Shares of IAG opened at $5.73 on Friday. IAMGOLD has a one year low of $2.11 and a one year high of $6.37. The stock’s fifty day moving average is $5.35 and its 200-day moving average is $4.68. 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 has a market capitalization of $3.27 billion, a price-to-earnings ratio of 4.47 and a beta of 1.56.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. ORG Partners LLC bought a new position in shares of IAMGOLD in the third quarter worth about $29,000. Eastern Bank acquired a new position in shares of IAMGOLD during the third quarter worth approximately $30,000. TIAA Trust National Association bought a new stake in shares of IAMGOLD in the second quarter valued at approximately $38,000. Cetera Advisors LLC acquired a new stake in shares of IAMGOLD in the first quarter worth $50,000. Finally, WINTON GROUP Ltd bought a new position in IAMGOLD during the second quarter worth $52,000. Institutional investors and hedge funds 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.