IAMGOLD Co. (NYSE:IAG) Receives $6.68 Consensus PT from Analysts

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $6.68.

A number of brokerages recently issued reports on IAG. Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. StockNews.com raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Finally, Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and increased their price target for the stock from $7.75 to $10.50 in a report on Tuesday, October 22nd.

IAMGOLD Stock Performance

Shares of IAMGOLD stock opened at $5.16 on Thursday. 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 business’s 50 day moving average price is $5.45 and its 200 day moving average price is $4.86. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 4.03 and a beta of 1.56. IAMGOLD has a one year low of $2.23 and a one year high of $6.37.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IAG. ORG Partners LLC acquired a new stake in IAMGOLD during the 3rd quarter worth approximately $29,000. Eastern Bank acquired a new position in IAMGOLD during the 3rd quarter worth $30,000. TIAA Trust National Association purchased a new stake in IAMGOLD during the 2nd quarter worth about $38,000. WINTON GROUP Ltd acquired a new stake in IAMGOLD in the second quarter valued at approximately $52,000. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of IAMGOLD in the 2nd quarter valued at approximately $56,000. Hedge funds and other institutional investors 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.