Cibc World Mkts Upgrades IAMGOLD (TSE:IMG) to “Strong-Buy”

Cibc World Mkts upgraded shares of IAMGOLD (TSE:IMG) (NYSE:IAG) from a hold rating to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

Other research analysts have also issued reports about the company. Stifel Nicolaus upped their price target on IAMGOLD from C$6.00 to C$9.00 in a report on Monday, October 21st. National Bank Financial raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada lowered IAMGOLD from a “moderate buy” rating to a “hold” rating in a report on Tuesday, September 10th. Finally, National Bankshares upped their target price on IAMGOLD from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$7.29.

IAMGOLD Stock Up 5.5 %

IMG opened at C$8.06 on Monday. The firm has a market cap of C$4.60 billion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47. The company has a debt-to-equity ratio of 35.17, a quick ratio of 1.19 and a current ratio of 1.34. The business has a 50 day moving average price of C$7.42 and a 200 day moving average price of C$6.42. IAMGOLD has a twelve month low of C$2.87 and a twelve month high of C$8.80.

Insider Activity

In other news, Senior Officer Stephen Eddy sold 16,100 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of C$7.80, for a total transaction of C$125,580.00. Also, Director Renaud Adams purchased 36,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were bought at an average cost of C$6.95 per share, for a total transaction of C$250,102.80. 0.10% of the stock is owned by corporate insiders.

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.