IAMGOLD Co. (NYSE:IAG) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG has been assigned a consensus recommendation of "Moderate Buy" from the nine ratings firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $6.57.

Several equities analysts have recently issued reports on the company. StockNews.com raised IAMGOLD from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. Raymond James raised IAMGOLD from a "strong sell" rating to a "hold" rating in a research report on Monday, February 3rd. Canaccord Genuity Group raised IAMGOLD from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Cibc World Mkts raised IAMGOLD from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 2nd. Finally, Canaccord Genuity Group raised IAMGOLD from a "hold" rating to a "buy" rating and lifted their price target for the stock from $7.75 to $10.50 in a research report on Tuesday, October 22nd.

IAMGOLD Stock Down 3.0 %

IAMGOLD stock traded down $0.20 on Friday, hitting $6.34. 9,997,003 shares of the stock traded hands, compared to its average volume of 12,636,900. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The firm has a market cap of $3.62 billion, a P/E ratio of 4.96 and a beta of 1.56. The business's fifty day simple moving average is $5.72 and its 200 day simple moving average is $5.36. IAMGOLD has a 1 year low of $2.38 and a 1 year high of $6.69.

Institutional Investors Weigh In On IAMGOLD

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its stake in shares of IAMGOLD by 368.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,521,670 shares of the mining company's stock valued at $7,772,000 after purchasing an additional 1,196,564 shares during the period. Semanteon Capital Management LP bought a new stake in shares of IAMGOLD during the 3rd quarter valued at about $503,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of IAMGOLD by 158.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company's stock valued at $24,301,000 after purchasing an additional 2,839,556 shares during the period. Van ECK Associates Corp grew its stake in shares of IAMGOLD by 8.8% during the 3rd quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company's stock valued at $276,639,000 after purchasing an additional 4,267,084 shares during the period. Finally, U S Global Investors Inc. grew its stake in shares of IAMGOLD by 241.6% during the 3rd quarter. U S Global Investors Inc. now owns 854,114 shares of the mining company's stock valued at $4,467,000 after purchasing an additional 604,114 shares during the period. 47.08% of the stock is currently 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.