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

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have been assigned an average rating of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $6.68.

IAG has been the subject of a number of recent analyst reports. CIBC raised shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. StockNews.com upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. 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 objective on shares of IAMGOLD in a research note on Tuesday, October 22nd.

IAMGOLD Stock Down 1.9 %

IAG stock opened at $5.06 on Thursday. IAMGOLD has a 52 week low of $2.23 and a 52 week high of $6.37. The business has a 50-day simple moving average of $5.43 and a 200 day simple moving average of $4.88. 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 company has a market cap of $2.89 billion, a PE ratio of 3.95 and a beta of 1.56.

Institutional Trading of IAMGOLD

A number of institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp lifted its stake in shares of IAMGOLD by 8.8% in the 3rd quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock valued at $276,639,000 after purchasing an additional 4,267,084 shares during the period. Two Sigma Advisers LP increased its holdings in IAMGOLD by 58.8% in the third quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company’s stock worth $52,735,000 after purchasing an additional 3,732,315 shares in the last quarter. FMR LLC lifted its stake in IAMGOLD by 107.9% in the third quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock valued at $46,174,000 after buying an additional 4,577,599 shares during the period. Millennium Management LLC boosted its holdings in shares of IAMGOLD by 194.2% during the 2nd quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company’s stock worth $29,573,000 after buying an additional 5,204,715 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of IAMGOLD by 28.6% during the 2nd quarter. American Century Companies Inc. now owns 5,708,298 shares of the mining company’s stock worth $21,423,000 after buying an additional 1,270,608 shares during the period. Institutional investors own 47.08% of the company’s stock.

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.