IAMGOLD Co. (NYSE:IAG) Receives Average Rating of "Moderate Buy" from Analysts

Shares of IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG have received an average rating of "Moderate Buy" from the eight research firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $6.68.

Several research analysts have recently weighed in on the company. StockNews.com upgraded IAMGOLD from a "hold" rating to a "buy" rating in a 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. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $6.00 target price on shares of IAMGOLD in a research note on Tuesday, October 22nd. Canaccord Genuity Group raised shares of IAMGOLD from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Finally, Cibc World Mkts upgraded shares of IAMGOLD from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 2nd.

Institutional Trading of IAMGOLD

Several institutional investors have recently added to or reduced their stakes in IAG. Van ECK Associates Corp boosted its position in shares of IAMGOLD by 8.8% during the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company's stock worth $276,639,000 after buying an additional 4,267,084 shares during the period. Two Sigma Advisers LP boosted its holdings in IAMGOLD by 58.8% during the 3rd quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company's stock valued at $52,735,000 after acquiring an additional 3,732,315 shares during the period. FMR LLC grew its position in IAMGOLD by 107.9% in the 3rd quarter. FMR LLC now owns 8,819,600 shares of the mining company's stock valued at $46,174,000 after acquiring an additional 4,577,599 shares in the last quarter. Millennium Management LLC increased its stake in IAMGOLD by 194.2% during the second quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company's stock worth $29,573,000 after purchasing an additional 5,204,715 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of IAMGOLD by 28.6% during the second quarter. American Century Companies Inc. now owns 5,708,298 shares of the mining company's stock worth $21,423,000 after purchasing an additional 1,270,608 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company's stock.

IAMGOLD Price Performance

Shares of IAMGOLD stock traded up $0.05 during trading hours on Thursday, reaching $5.20. 2,388,530 shares of the company's stock were exchanged, compared to its average volume of 8,789,167. The business has a fifty day moving average of $5.46 and a two-hundred day moving average of $4.83. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $2.97 billion, a P/E ratio of 4.06 and a beta of 1.56. IAMGOLD has a 1 year low of $2.23 and a 1 year high of $6.37.

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.