IAMGOLD (TSE:IMG) Stock Price Up 5.8% – Time to Buy?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s stock price shot up 5.8% during mid-day trading on Friday . The company traded as high as C$10.30 and last traded at C$10.18. 2,036,712 shares were traded during mid-day trading, an increase of 3% from the average session volume of 1,984,398 shares. The stock had previously closed at C$9.62.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IMG. National Bank Financial raised shares of IAMGOLD to a “strong-buy” rating in a research note on Friday, March 21st. Raymond James raised shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. Finally, National Bankshares increased their price target on IAMGOLD from C$13.50 to C$15.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 2nd. Two investment 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 stock. According to MarketBeat, IAMGOLD presently has an average rating of “Buy” and an average target price of C$10.00.

IAMGOLD Trading Up 4.0 %

The firm has a market capitalization of C$4.06 billion, a price-to-earnings ratio of 5.19, a P/E/G ratio of -0.28 and a beta of 1.47. The company has a debt-to-equity ratio of 28.93, a quick ratio of 1.19 and a current ratio of 0.89. The business has a fifty day moving average price of C$8.64 and a 200 day moving average price of C$8.00.

Insider Transactions at IAMGOLD

In related news, Director Christiane Bergevin acquired 5,000 shares of IAMGOLD stock in a transaction on Thursday, March 13th. The shares were bought at an average price of C$8.29 per share, for a total transaction of C$41,450.00. Also, Senior Officer Bruno Lemelin sold 15,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of C$8.52, for a total value of C$127,786.50. Insiders have bought a total of 45,800 shares of company stock worth $370,999 in the last three months. 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.