Insider Buying: IAMGOLD (TSE:IMG) Insider Acquires C$99,992.38 in Stock

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) insider Ankit Shah purchased 4,666 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was acquired at an average price of C$21.43 per share, for a total transaction of C$99,992.38. Following the transaction, the insider owned 14,323 shares of the company’s stock, valued at C$306,941.89. The trade was a 48.32% increase in their position.

Ankit Shah also recently made the following trade(s):

• On Tuesday, May 12th, Ankit Shah purchased 9,657 shares of IAMGOLD stock. The stock was acquired at an average price of C$26.03 per share, for a total transaction of C$251,371.71.

IAMGOLD Trading Down 3.9%

IAMGOLD stock opened at C$20.69 on Thursday. The company has a debt-to-equity ratio of 15.02, a quick ratio of 1.19 and a current ratio of 1.89. The firm has a market cap of C$11.96 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of -0.28 and a beta of 2.04. IAMGOLD Co. has a 1 year low of C$9.26 and a 1 year high of C$34.09. The firm’s 50 day moving average price is C$24.54 and its two-hundred day moving average price is C$25.15.

IAMGOLD (TSE:IMG) (NYSE:IAG) last posted its quarterly earnings data on Tuesday, May 5th. The mining company reported C$0.93 earnings per share for the quarter. IAMGOLD had a net margin of 29.53% and a return on equity of 26.05%. The firm had revenue of C$1.43 billion for the quarter. On average, research analysts predict that IAMGOLD Co. will post 1.1121076 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IMG has been the topic of several research analyst reports. TD Securities lifted their price objective on shares of IAMGOLD from C$34.00 to C$36.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. BMO Capital Markets lifted their price objective on shares of IAMGOLD from C$27.00 to C$32.00 in a research report on Wednesday, April 22nd. National Bank Financial lifted their price objective on shares of IAMGOLD from C$36.00 to C$39.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Finally, Bank of America lifted their price objective on shares of IAMGOLD from C$32.50 to C$38.00 in a research report on Thursday, February 26th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$32.07.

About IAMGOLD

Iamgold Corp is a mid-tier gold mining company operating in three regions globally North America, South America and West Africa. Within these regions, the company is developing potential mining districts that encompass operating mines and construction, development and exploration projects. The company’s operating mines include Essakane in Burkina Faso, Rosebel in Suriname and Westwood in Canada. A solid base of strategic assets is complemented by the Cote Gold construction project in Canada, the Boto Gold development project in Senegal, as well as greenfield and brownfield exploration projects in various countries located in the Americas and West Africa.