IAMGOLD (TSE:IMG) Stock Price Up 6.3% – Still a Buy?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) traded up 6.3% during trading on Thursday . The company traded as high as C$9.92 and last traded at C$9.77. 3,362,700 shares traded hands during mid-day trading, an increase of 71% from the average session volume of 1,964,990 shares. The stock had previously closed at C$9.19.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IMG. National Bankshares raised their price objective on IAMGOLD from C$13.50 to C$15.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 2nd. National Bank Financial upgraded shares of IAMGOLD to a “strong-buy” rating in a research report on Friday, March 21st. Finally, Raymond James upgraded shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a hold rating, one has issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$10.00.

IAMGOLD Stock Performance

The stock has a market capitalization of C$4.07 billion, a price-to-earnings ratio of 5.20, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47. The company has a 50 day simple moving average of C$8.66 and a 200-day simple moving average of C$8.01. The company has a quick ratio of 1.19, a current ratio of 0.89 and a debt-to-equity ratio of 28.93.

Insiders Place Their Bets

In other news, Director Renaud Adams acquired 35,000 shares of IAMGOLD stock in a transaction on Friday, February 28th. The stock was purchased at an average price of C$8.08 per share, with a total value of C$282,660.00. Also, Senior Officer Bruno Lemelin sold 15,000 shares of the company’s stock in a transaction that occurred 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. Over the last ninety days, insiders purchased 45,800 shares of company stock worth $370,999. 0.10% of the stock is currently owned by company insiders.

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.