IAMGOLD (TSE:IMG) Trading Up 8% – What’s Next?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s stock price was up 8% during mid-day trading on Wednesday . The stock traded as high as C$9.30 and last traded at C$8.92. Approximately 1,789,994 shares were traded during trading, a decline of 6% from the average daily volume of 1,907,219 shares. The stock had previously closed at C$8.26.

Wall Street Analysts Forecast Growth

IMG has been the subject of a number of analyst reports. National Bank Financial raised IAMGOLD to a “strong-buy” rating in a research report on Friday, March 21st. Raymond James raised shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, February 3rd. Finally, National Bankshares upped their price objective 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. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, IAMGOLD presently has an average rating of “Buy” and an average price target of C$10.00.

IAMGOLD Price Performance

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

Insider Activity

In related news, Director Renaud Adams acquired 35,000 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of C$8.08 per share, with a total value of C$282,660.00. Also, Senior Officer Bruno Lemelin sold 15,000 shares of the 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. Insiders have acquired a total of 45,800 shares of company stock valued at $370,999 over the last quarter. 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.