IAMGOLD (TSE:IMG) Upgraded at Cibc World Mkts

IAMGOLD (TSE:IMG) (NYSE:IAG) was upgraded by research analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other brokerages have also commented on IMG. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. Royal Bank of Canada lowered IAMGOLD from a “moderate buy” rating to a “hold” rating in a report on Tuesday, September 10th. Stifel Nicolaus boosted their target price on IAMGOLD from C$6.00 to C$9.00 in a research note on Monday, October 21st. National Bankshares boosted their target price on IAMGOLD from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, National Bank Financial upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$7.29.

IAMGOLD Stock Performance

IMG stock opened at C$8.06 on Monday. The stock has a 50-day moving average price of C$7.42 and a 200-day moving average price of C$6.42. IAMGOLD has a 1-year low of C$2.87 and a 1-year high of C$8.80. The company has a current ratio of 1.34, a quick ratio of 1.19 and a debt-to-equity ratio of 35.17. The firm has a market cap of C$4.60 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47.

Insiders Place Their Bets

In other IAMGOLD news, Senior Officer Stephen Eddy sold 16,100 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of C$7.80, for a total value of C$125,580.00. Also, Director Renaud Adams acquired 36,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was bought at an average price of C$6.95 per share, with a total value of C$250,102.80. 0.10% of the stock is currently owned by company insiders.

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.