Shares of IAMGOLD Corp (NYSE:IAG) (TSE:IMG) were up 5.1% during mid-day trading on Friday . The stock traded as high as $5.69 and last traded at $5.58. Approximately 6,280,856 shares were traded during trading, an increase of 30% from the average daily volume of 4,822,766 shares. The stock had previously closed at $5.31.
Several analysts recently issued reports on IAG shares. Zacks Investment Research upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating and set a $6.75 price target on the stock in a research report on Wednesday, January 10th. BMO Capital Markets set a $7.00 price target on shares of IAMGOLD and gave the stock a “buy” rating in a research report on Tuesday, December 19th. CIBC set a $7.50 price target on shares of IAMGOLD and gave the stock an “outperform” rating in a research report on Wednesday, January 17th. Canaccord Genuity upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a research report on Wednesday, January 17th. Finally, Bank of America raised shares of IAMGOLD from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a research note on Friday. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $7.17.
The company has a market cap of $2,476.76, a P/E ratio of 93.00, a P/E/G ratio of 16.70 and a beta of -0.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.16 and a current ratio of 5.02.
A number of large investors have recently modified their holdings of IAG. James Investment Research Inc. bought a new position in IAMGOLD in the 4th quarter valued at approximately $105,000. Fox Run Management L.L.C. raised its stake in shares of IAMGOLD by 121.2% during the fourth quarter. Fox Run Management L.L.C. now owns 26,325 shares of the mining company’s stock valued at $153,000 after acquiring an additional 14,425 shares during the last quarter. Aperio Group LLC bought a new position in shares of IAMGOLD during the fourth quarter valued at $223,000. Tower Research Capital LLC TRC raised its stake in shares of IAMGOLD by 39.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 36,071 shares of the mining company’s stock valued at $265,000 after acquiring an additional 10,179 shares during the last quarter. Finally, Two Sigma Securities LLC raised its stake in shares of IAMGOLD by 41.5% during the fourth quarter. Two Sigma Securities LLC now owns 50,760 shares of the mining company’s stock valued at $296,000 after acquiring an additional 14,895 shares during the last quarter. 57.40% of the stock is owned by institutional investors and hedge funds.
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IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. It also explores for copper and silver. The company owns interest in the Rosebel gold mine located in north eastern Suriname, South America; Essakane gold mine in north-eastern Burkina Faso, West Africa; Westwood gold mine in southwestern Québec, Canada; the Sadiola Gold Mine located in southwest Mali, West Africa; and Yatela gold mines situated in southwest Mali, West Africa.
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