IAMGOLD (TSE:IMG) Trading Up 6.3% – What’s Next?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s stock price traded up 6.3% during trading on Thursday . The stock traded as high as C$9.92 and last traded at C$9.77. 3,362,700 shares were traded during trading, an increase of 71% from the average session volume of 1,964,990 shares. The stock had previously closed at C$9.19.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IMG. National Bank Financial raised shares of IAMGOLD to a “strong-buy” rating in a research note on Friday, March 21st. Raymond James upgraded IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. Finally, National Bankshares increased their target price on IAMGOLD from C$13.50 to C$15.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating, one has given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, IAMGOLD has a consensus rating of “Buy” and an average price target of C$10.00.

IAMGOLD Stock Up 4.7 %

The company has a market cap of C$3.91 billion, a P/E ratio of 4.99, a P/E/G ratio of -0.28 and a beta of 1.47. The company’s 50-day moving average is C$8.64 and its two-hundred day moving average is C$7.99. The company has a debt-to-equity ratio of 28.93, a current ratio of 0.89 and a quick ratio of 1.19.

Insiders Place Their Bets

In related news, Director Christiane Bergevin bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of C$8.29 per share, for a total transaction of C$41,450.00. Also, Senior Officer Bruno Lemelin sold 15,000 shares of the business’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. In the last quarter, insiders acquired 45,800 shares of company stock valued at $370,999. Corporate 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.