IAMGOLD (NYSE:IAG) Upgraded by CIBC to Sector Outperform Rating

IAMGOLD (NYSE:IAG) (TSE:IMG) was upgraded by investment analysts at CIBC from a “neutral” rating to a “sector outperform” rating in a note issued to investors on Monday, Marketbeat Ratings reports.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $6.00 target price on shares of IAMGOLD in a research report on Tuesday, October 22nd. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Scotiabank lifted their target price on shares of IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. National Bank Financial upgraded shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Finally, StockNews.com upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, IAMGOLD has an average rating of “Moderate Buy” and an average target price of $6.68.

IAMGOLD Stock Up 5.4 %

Shares of NYSE:IAG opened at $5.73 on Monday. IAMGOLD has a 52-week low of $2.11 and a 52-week high of $6.37. The company has a market capitalization of $3.27 billion, a PE ratio of 4.47 and a beta of 1.56. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. The company has a fifty day moving average of $5.35 and a 200-day moving average of $4.68.

Institutional Investors Weigh In On IAMGOLD

A number of institutional investors have recently modified their holdings of IAG. ORG Partners LLC bought a new position in IAMGOLD during the third quarter worth $29,000. Eastern Bank bought a new position in shares of IAMGOLD in the 3rd quarter worth about $30,000. TIAA Trust National Association bought a new position in shares of IAMGOLD in the 2nd quarter worth about $38,000. Cetera Advisors LLC acquired a new position in shares of IAMGOLD in the 1st quarter valued at about $50,000. Finally, WINTON GROUP Ltd bought a new stake in shares of IAMGOLD during the 2nd quarter valued at about $52,000. 47.08% of the stock is owned by institutional investors.

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.