Brokerages Set IAMGOLD Co. (TSE:IMG) Price Target at C$7.29

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) has earned an average recommendation of “Buy” from the six ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is C$7.29.

A number of equities research analysts have recently weighed in on IMG shares. National Bank Financial raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus increased their price target on IAMGOLD from C$6.00 to C$9.00 in a research note on Monday, October 21st. Royal Bank of Canada downgraded IAMGOLD from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Finally, National Bankshares lifted their price target on shares of IAMGOLD from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd.

IAMGOLD Stock Performance

Shares of TSE IMG opened at C$7.48 on Thursday. 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 company has a market capitalization of C$4.27 billion, a P/E ratio of 23.38, a P/E/G ratio of -0.28 and a beta of 1.47. IAMGOLD has a 12 month low of C$2.87 and a 12 month high of C$8.80. The stock has a 50 day moving average of C$7.37 and a 200-day moving average of C$6.33.

Insider Buying and Selling

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

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.