IAMGOLD Co. (TSE:IMG) Receives Consensus Recommendation of “Buy” from Brokerages

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) has been given an average recommendation of “Buy” by the six research firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$9.05.

Several brokerages have commented on IMG. National Bankshares boosted their price target on shares of IAMGOLD from C$13.50 to C$15.00 and gave the stock an “outperform” rating in a research note on Wednesday. National Bank Financial raised IAMGOLD to a “strong-buy” rating in a research note on Friday, March 21st. Finally, Raymond James raised IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd.

Insider Activity

In other news, Director Renaud Adams bought 35,000 shares of IAMGOLD stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of C$8.08 per share, with a total value of C$282,660.00. Also, Senior Officer Bruno Lemelin sold 15,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of C$8.52, for a total transaction of C$127,786.50. Insiders purchased 45,800 shares of company stock valued at $370,999 in the last ninety days. Insiders own 0.10% of the company’s stock.

IAMGOLD Trading Up 2.5 %

IAMGOLD stock opened at C$9.26 on Thursday. The stock has a market cap of C$3.76 billion, a P/E ratio of 4.81, a PEG ratio of -0.28 and a beta of 1.47. The firm’s 50 day moving average price is C$8.65 and its 200-day moving average price is C$7.92. IAMGOLD has a 1 year low of C$4.72 and a 1 year high of C$9.68. The company has a debt-to-equity ratio of 28.93, a current ratio of 0.89 and a quick ratio of 1.19.

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.