IAMGOLD (TSE:IMG) Trading 8.4% Higher – Still a Buy?

Shares of IAMGOLD Co. (TSE:IMG) (NYSE:IAG) were up 8.4% during mid-day trading on Wednesday . The company traded as high as C$9.30 and last traded at C$8.95. Approximately 2,030,929 shares were traded during mid-day trading, an increase of 6% from the average daily volume of 1,913,875 shares. The stock had previously closed at C$8.26.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IMG. National Bank Financial raised shares of IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. National Bankshares upped their target price on shares of 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, Raymond James upgraded IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$10.00.

IAMGOLD Stock Up 4.2 %

The stock has a market cap of C$4.07 billion, a P/E ratio of 5.20, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47. The stock’s 50-day moving average is C$8.64 and its 200-day moving average is C$8.00. The company has a current ratio of 0.89, a quick ratio of 1.19 and a debt-to-equity ratio of 28.93.

Insider Activity

In other IAMGOLD news, Senior Officer Bruno Lemelin sold 15,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of C$8.52, for a total value of C$127,786.50. Also, Director Christiane Bergevin acquired 5,000 shares of IAMGOLD stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of C$8.29 per share, with a total value of C$41,450.00. Insiders purchased 45,800 shares of company stock worth $370,999 over the last three months. 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.