Analysts Set IAMGOLD Co. (NYSE:IAG) Price Target at $6.57

Shares of IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG have earned a consensus rating of "Moderate Buy" from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $6.57.

Several equities research analysts have commented on IAG shares. StockNews.com downgraded IAMGOLD from a "buy" rating to a "hold" rating in a report on Wednesday, January 15th. National Bank Financial raised shares of IAMGOLD from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 10th. Canaccord Genuity Group upgraded shares of IAMGOLD from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. CIBC upgraded shares of IAMGOLD from a "neutral" rating to a "sector outperform" rating in a research note on Monday, December 2nd. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $6.00 price target on shares of IAMGOLD in a research report on Tuesday, October 22nd.

IAMGOLD Stock Up 2.7 %

Shares of IAG stock traded up $0.15 during trading hours on Monday, hitting $5.60. 11,591,368 shares of the company's stock traded hands, compared to its average volume of 6,144,788. 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 stock's fifty day simple moving average is $5.39 and its two-hundred day simple moving average is $5.05. IAMGOLD has a 12-month low of $2.23 and a 12-month high of $6.37. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 4.37 and a beta of 1.56.

Institutional Investors Weigh In On IAMGOLD

Several hedge funds and other institutional investors have recently made changes to their positions in IAG. Van ECK Associates Corp grew its position in IAMGOLD by 8.8% during the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company's stock valued at $276,639,000 after buying an additional 4,267,084 shares during the period. Two Sigma Advisers LP grew its position in shares of 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 increased its stake in shares of IAMGOLD by 107.9% in the 3rd quarter. FMR LLC now owns 8,819,600 shares of the mining company's stock worth $46,174,000 after purchasing an additional 4,577,599 shares in the last quarter. Millennium Management LLC raised its holdings in IAMGOLD by 194.2% in the 2nd 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, Dimensional Fund Advisors LP raised its holdings in IAMGOLD by 18.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,663,676 shares of the mining company's stock worth $21,239,000 after purchasing an additional 898,077 shares during the period. 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.