Brokerages Set IAMGOLD Co. (TSE:IMG) Price Target at C$8.68

Shares of IAMGOLD Co. (TSE:IMG) (NYSE:IAG) have been given an average rating of “Buy” by the six ratings firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, one has given a buy rating and three have given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is C$8.68.

Several analysts have recently weighed in on IMG shares. National Bankshares boosted their target price on IAMGOLD from C$12.00 to C$13.50 and gave the company an “outperform” rating in a report on Tuesday, February 11th. National Bank Financial raised IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Raymond James raised IAMGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, February 3rd.

IAMGOLD Price Performance

Shares of IMG opened at C$9.01 on Thursday. The company has a debt-to-equity ratio of 28.93, a current ratio of 0.89 and a quick ratio of 1.19. IAMGOLD has a 1-year low of C$4.70 and a 1-year high of C$9.68. The stock has a market cap of C$3.66 billion, a PE ratio of 4.68, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47. The firm has a fifty day moving average price of C$8.59 and a 200 day moving average price of C$7.88.

Insiders Place Their Bets

In other news, Senior Officer Bruno Lemelin sold 15,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of C$8.52, for a total transaction of C$127,786.50. Also, Director Renaud Adams purchased 35,000 shares of the stock in a transaction on Friday, February 28th. The stock was acquired at an average price of C$8.08 per share, with a total value of C$282,660.00. Over the last quarter, insiders acquired 45,800 shares of company stock worth $370,999. Insiders own 0.10% of the company’s stock.

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.