IAMGOLD (TSE:IMG) Upgraded to Strong-Buy at Cibc World Mkts

IAMGOLD (TSE:IMG) (NYSE:IAG) was upgraded by Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

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

IAMGOLD Price Performance

IAMGOLD stock opened at C$8.06 on Monday. IAMGOLD has a one year low of C$2.87 and a one year high of C$8.80. 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 fifty day moving average of C$7.42 and a two-hundred day moving average of C$6.42. The company 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.

Insider Buying and Selling at IAMGOLD

In related news, Senior Officer Stephen Eddy sold 16,100 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of C$7.80, for a total transaction of C$125,580.00. Also, Director Renaud Adams acquired 36,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was acquired at an average price of C$6.95 per share, with a total value of C$250,102.80. Insiders own 0.10% 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.