IAMGOLD (TSE:IMG) Stock Price Up 9.6% – Should You Buy?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s share price rose 9.6% during mid-day trading on Wednesday . The stock traded as high as C$9.30 and last traded at C$9.05. Approximately 1,298,178 shares were traded during trading, a decline of 32% from the average daily volume of 1,900,122 shares. The stock had previously closed at C$8.26.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Raymond James upgraded shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. National Bankshares increased their price objective on IAMGOLD from C$13.50 to C$15.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 2nd. Finally, National Bank Financial raised IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$9.05.

IAMGOLD Price Performance

The stock has a market cap of C$3.64 billion, a price-to-earnings ratio of 4.65, a PEG ratio of -0.28 and a beta of 1.47. The company’s 50 day moving average is C$8.63 and its 200 day moving average is C$7.96. The company has a debt-to-equity ratio of 28.93, a current ratio of 0.89 and a quick ratio of 1.19.

Insider Activity

In other IAMGOLD news, Director Renaud Adams acquired 35,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of C$8.08 per share, with a total value of C$282,660.00. Also, Director Lawrence Peter O’hagan acquired 4,800 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were bought at an average price of C$8.11 per share, with a total value of C$38,918.88. In the last three months, insiders purchased 45,800 shares of company stock worth $370,999. Company 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.