IAMGOLD Co. (NYSE:IAG) Given Consensus Rating of “Moderate Buy” by Analysts

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) has been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $6.57.

IAG has been the topic of a number of analyst reports. Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. StockNews.com raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. CIBC raised shares of IAMGOLD from a “neutral” rating to a “sector outperform” 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 report on Tuesday, October 22nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 price target on shares of IAMGOLD in a report on Tuesday, October 22nd.

Institutional Investors Weigh In On IAMGOLD

Institutional investors have recently made changes to their positions in the business. Tobam purchased a new stake in shares of IAMGOLD in the 4th quarter valued at $25,000. ORG Partners LLC purchased a new stake in shares of IAMGOLD in the 3rd quarter valued at $29,000. Eastern Bank purchased a new stake in shares of IAMGOLD in the 3rd quarter valued at $30,000. Blue Trust Inc. boosted its stake in shares of IAMGOLD by 157.1% in the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock valued at $47,000 after purchasing an additional 5,511 shares in the last quarter. Finally, Raab & Moskowitz Asset Management LLC purchased a new stake in shares of IAMGOLD in the 4th quarter valued at $56,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

IAMGOLD Stock Performance

IAMGOLD stock opened at $6.54 on Friday. The firm’s 50 day simple moving average is $5.66 and its 200 day simple moving average is $5.30. 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 capitalization of $3.73 billion, a PE ratio of 5.11 and a beta of 1.56. IAMGOLD has a 1-year low of $2.35 and a 1-year high of $6.69.

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.