IAMGOLD (TSE:IMG) Shares Up 6.1% – What’s Next?

Shares of IAMGOLD Co. (TSE:IMG) (NYSE:IAG) were up 6.1% during mid-day trading on Thursday . The stock traded as high as C$9.83 and last traded at C$9.75. Approximately 1,697,949 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 1,943,968 shares. The stock had previously closed at C$9.19.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Raymond James raised IAMGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, February 3rd. National Bankshares upped their price objective on IAMGOLD from C$13.50 to C$15.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 2nd. Finally, National Bank Financial raised shares of IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$10.00.

IAMGOLD Trading Up 4.2 %

The firm has a market capitalization of C$4.07 billion, a price-to-earnings ratio of 5.20, a P/E/G ratio of -0.28 and a beta of 1.47. The company has a debt-to-equity ratio of 28.93, a quick ratio of 1.19 and a current ratio of 0.89. The company has a 50 day moving average price of C$8.66 and a two-hundred day moving average price of C$8.01.

Insiders Place Their Bets

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