IAMGOLD (NYSE:IAG) Stock Rating Upgraded by CIBC

IAMGOLD (NYSE:IAG) (TSE:IMG) was upgraded by research analysts at CIBC from a “neutral” rating to a “sector outperform” rating in a research note issued to investors on Monday, Marketbeat reports.

Other equities research analysts also recently issued reports about the stock. StockNews.com upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. 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. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating and lifted their target price for the stock from $7.75 to $10.50 in a report on Tuesday, October 22nd. Finally, Scotiabank boosted their target price on shares of IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, IAMGOLD has a consensus rating of “Moderate Buy” and a consensus price target of $6.68.

IAMGOLD Stock Performance

NYSE IAG opened at $5.73 on Monday. The stock has a market cap of $3.27 billion, a PE ratio of 4.47 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 has a 50-day moving average of $5.35 and a 200-day moving average of $4.68. IAMGOLD has a 52-week low of $2.11 and a 52-week high of $6.37.

Hedge Funds Weigh In On IAMGOLD

Several hedge funds have recently bought and sold shares of IAG. ORG Partners LLC bought a new position in IAMGOLD in the third quarter valued at approximately $29,000. Eastern Bank bought a new position in shares of IAMGOLD in the 3rd quarter valued at $30,000. TIAA Trust National Association acquired a new position in shares of IAMGOLD during the 2nd quarter worth $38,000. Cetera Advisors LLC bought a new stake in shares of IAMGOLD during the 1st quarter worth $50,000. Finally, WINTON GROUP Ltd bought a new stake in shares of IAMGOLD during the 2nd quarter worth $52,000. 47.08% of the stock is owned by institutional investors.

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.