IAMGOLD Co. (NYSE:IAG) Receives 'Moderate Buy' Consensus Rating from Analysts

Shares of IAMGOLD Co. (NYSE:IAG - Get Free Report) and TSE: IMG have been given a consensus rating of "Moderate Buy" by the seven brokerages currently covering the stock, according to recent reports from MarketBeat. Out of these analysts, three have recommended holding the stock, while four have issued buy recommendations. The average 12-month price target among these analysts is $6.68, suggesting some potential for growth.

Analyst Ratings and Price Targets

Several analysts have recently released reports regarding IAMGOLD shares. The Royal Bank of Canada has maintained a "sector perform" rating and set a price target of $6.00 for the shares in its report published on October 22nd. Furthermore, the National Bank Financial upgraded its rating of IAMGOLD from "sector perform" to "outperform" in its report on October 10th. StockNews.com also enhanced its rating on IAMGOLD from "hold" to "buy" on November 11th.

Additionally, CIBC increased its price target on IAMGOLD shares from $5.40 to $6.40 while maintaining a "neutral" rating, also noted in a report dated October 22nd. Scotiabank raised its price target for the stock from $4.75 to $5.50 and retained a "sector perform" rating in their analysis published on August 19th.

Investor Activity and Changes in Holdings

Recent adjustments have also been made by several significant investors regarding their holdings in IAMGOLD. For instance, Semanteon Capital Management LP acquired a new stake in the company during the third quarter, with an investment worth approximately $503,000. Additionally, Van ECK Associates Corp increased its stake by 8.8% during the same period, now owning 52,894,690 shares valued at $276,639,000 after adding 4,267,084 shares.

Furthermore, Connor Clark & Lunn Investment Management Ltd. raised its position by 158.1%, now holding 4,636,087 shares valued at $24,301,000 after increasing its shares by 2,839,556. U S Global Investors Inc. also boosted its holdings by 241.6%, owning 854,114 shares after acquiring an additional 604,114 shares, totaling $4,467,000. Lastly, Allspring Global Investments Holdings LLC significantly increased its stake by 1,973.8%, owning 1,012,000 shares valued at $5,311,000.

Institutional investors comprise approximately 47.08% of IAMGOLD’s stock.

IAMGOLD Stock Performance Overview

The current share price of IAMGOLD opened at $5.50. Over the past twelve months, the stock has seen a low of $2.11 and a high of $6.37. Its fifty-day simple moving average stands at $5.34, while the 200-day simple moving average is at $4.67. Currently, the company's market capitalization is $3.14 billion, featuring a price-to-earnings ratio of 4.30 and a beta of 1.57. Moreover, IAMGOLD has a current ratio of 0.89, a quick ratio of 0.61, and a debt-to-equity ratio of 0.24.

About IAMGOLD Corporation

IAMGOLD Corporation is an intermediate gold producer and developer based in Canada and Burkina Faso, operating through its subsidiaries. It holds a 100% interest in the Westwood mining project located in Quebec, covering an area of 1,925 hectares. Additionally, IAMGOLD has a 60% interest in the Côté gold project, which spans 596 square kilometers in Ontario, and a 90% interest in the Essakane project, covering 274,000 square kilometers in Burkina Faso.

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