IAMGOLD Co. (NYSE:IAG) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) have received a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $6.68.

A number of equities analysts have recently commented on IAG shares. StockNews.com cut IAMGOLD from a “buy” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and set a $6.00 target price on shares of IAMGOLD in a research note on Tuesday, October 22nd. CIBC raised shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd.

IAMGOLD Stock Up 2.0 %

Shares of IAG opened at $5.16 on Thursday. The firm has a 50 day simple moving average of $5.39 and a two-hundred day simple moving average of $4.89. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. IAMGOLD has a one year low of $2.23 and a one year high of $6.37. The company has a market cap of $2.95 billion, a P/E ratio of 4.03 and a beta of 1.56.

Institutional Trading of IAMGOLD

Several institutional investors have recently modified their holdings of IAG. Millennium Management LLC grew its position in shares of IAMGOLD by 194.2% in the 2nd quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company’s stock valued at $29,573,000 after buying an additional 5,204,715 shares during the last quarter. FMR LLC lifted its stake in shares of IAMGOLD by 107.9% in the third quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock worth $46,174,000 after acquiring an additional 4,577,599 shares during the period. Van ECK Associates Corp boosted its holdings in IAMGOLD by 8.8% in the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock valued at $276,639,000 after acquiring an additional 4,267,084 shares during the last quarter. Two Sigma Advisers LP increased its position in IAMGOLD by 58.8% during the 3rd quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company’s stock valued at $52,735,000 after purchasing an additional 3,732,315 shares during the period. Finally, Bank of Montreal Can raised its holdings in IAMGOLD by 130.6% during the 3rd quarter. Bank of Montreal Can now owns 5,384,778 shares of the mining company’s stock worth $28,385,000 after purchasing an additional 3,049,252 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

About IAMGOLD

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.