IAMGOLD (NYSE:IAG) Upgraded at StockNews.com

StockNews.com upgraded shares of IAMGOLD (NYSE:IAG) (TSE:IMG) from a hold rating to a buy rating in a report issued on Monday.

Several other research firms also recently issued reports on IAG. Royal Bank of Canada restated a “sector perform” rating and set a $6.00 price objective on shares of IAMGOLD in a report on Tuesday, October 22nd. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $7.75 to $10.50 in a report on Tuesday, October 22nd. CIBC lifted their price objective on IAMGOLD from $5.40 to $6.40 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, National Bank Financial upgraded IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $6.68.

IAMGOLD Stock Performance

IAMGOLD stock opened at $4.98 on Monday. The stock’s 50 day moving average price is $5.29 and its 200 day moving average price is $4.53. The firm has a market capitalization of $2.84 billion, a PE ratio of 3.89 and a beta of 1.57. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. IAMGOLD has a one year low of $2.11 and a one year high of $6.37.

Institutional Investors Weigh In On IAMGOLD

A number of institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its holdings in shares of IAMGOLD by 368.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,521,670 shares of the mining company’s stock valued at $7,772,000 after acquiring an additional 1,196,564 shares during the last quarter. FMR LLC increased its holdings in shares of IAMGOLD by 107.9% in the 3rd quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock valued at $46,174,000 after acquiring an additional 4,577,599 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in IAMGOLD by 3.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 471,617 shares of the mining company’s stock worth $2,474,000 after buying an additional 17,891 shares during the last quarter. Bank of Montreal Can grew its stake 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 buying an additional 3,049,252 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in IAMGOLD by 158.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company’s stock worth $24,301,000 after buying an additional 2,839,556 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors.

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.