IAMGOLD (TSE:IMG) Trading 6.1% Higher – Still a Buy?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s share price shot up 6.1% during trading on Thursday . The stock traded as high as C$9.83 and last traded at C$9.75. 1,697,949 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 1,943,968 shares. The stock had previously closed at C$9.19.

Analyst Ratings Changes

IMG has been the subject of several research analyst reports. National Bank Financial upgraded IAMGOLD to a “strong-buy” rating in a research report on Friday, March 21st. Raymond James upgraded 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 target price 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 investment analysts have rated the stock with a hold rating, one has given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, IAMGOLD presently has an average rating of “Buy” and an average target price of C$10.00.

IAMGOLD Stock Up 3.9 %

The company has a debt-to-equity ratio of 28.93, a quick ratio of 1.19 and a current ratio of 0.89. The firm has a market capitalization of C$3.88 billion, a PE ratio of 4.96, a PEG ratio of -0.28 and a beta of 1.47. The company has a fifty day moving average price of C$8.64 and a 200-day moving average price of C$7.99.

Insider Activity at IAMGOLD

In related news, Senior Officer Bruno Lemelin sold 15,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of C$8.52, for a total value of C$127,786.50. Also, Director Renaud Adams acquired 35,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of C$8.08 per share, with a total value of C$282,660.00. Insiders have acquired a total of 45,800 shares of company stock valued at $370,999 over the last 90 days. 0.10% of the stock is owned by corporate insiders.

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.