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

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have earned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $6.68.

Several equities analysts have weighed in on the company. CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. National Bank Financial upgraded shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. StockNews.com lowered shares of IAMGOLD from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $6.00 price objective on shares of IAMGOLD in a research note on Tuesday, October 22nd.

IAMGOLD Stock Performance

IAG stock opened at $5.16 on Thursday. IAMGOLD has a twelve month low of $2.23 and a twelve month high of $6.37. 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 $2.95 billion, a P/E ratio of 4.03 and a beta of 1.56. The business’s fifty day moving average is $5.39 and its 200-day moving average is $4.89.

Hedge Funds Weigh In On IAMGOLD

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ORG Partners LLC bought a new stake in shares of IAMGOLD in the third quarter valued at approximately $29,000. Eastern Bank bought a new stake in shares of IAMGOLD during the 3rd quarter valued at $30,000. TIAA Trust National Association bought a new stake in shares of IAMGOLD during the 2nd quarter valued at $38,000. International Assets Investment Management LLC acquired a new stake in shares of IAMGOLD during the 3rd quarter worth $700,000. Finally, WINTON GROUP Ltd bought a new position in shares of IAMGOLD in the second quarter worth $52,000. 47.08% of the stock is owned by institutional investors and hedge funds.

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.