IAMGOLD (NYSE:IAG) Sets New 12-Month High – Here’s What Happened

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) reached a new 52-week high during trading on Tuesday . The company traded as high as $6.64 and last traded at $6.45, with a volume of 13292249 shares. The stock had previously closed at $6.41.

Analyst Ratings Changes

IAG has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $6.00 target price on shares of IAMGOLD in a report on Tuesday, October 22nd. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Raymond James raised IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. Finally, Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and increased their target price for the stock from $7.75 to $10.50 in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $6.57.

IAMGOLD Stock Up 0.5 %

The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $3.68 billion, a P/E ratio of 5.04 and a beta of 1.56. The company has a fifty day moving average price of $5.61 and a 200-day moving average price of $5.26.

Institutional Trading of IAMGOLD

Large investors have recently added to or reduced their stakes in the company. Tobam purchased a new position in shares of IAMGOLD in the fourth quarter valued at $25,000. ORG Partners LLC bought a new position in IAMGOLD during the third quarter valued at $29,000. Eastern Bank bought a new position in IAMGOLD during the third quarter valued at $30,000. Blue Trust Inc. grew its stake in shares of IAMGOLD by 157.1% in the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock worth $47,000 after buying an additional 5,511 shares in the last quarter. Finally, Raab & Moskowitz Asset Management LLC bought a new stake in shares of IAMGOLD in the 4th quarter worth about $56,000. Institutional investors own 47.08% of the company’s stock.

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.