Insider Buying: IAMGOLD Co. (TSE:IMG) Director Buys 36,000 Shares of Stock

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) Director Renaud Adams acquired 36,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was acquired at an average price of C$6.95 per share, for a total transaction of C$250,102.80.

IAMGOLD Stock Performance

IAMGOLD stock traded down C$0.28 during mid-day trading on Tuesday, reaching C$6.98. The company had a trading volume of 861,035 shares, compared to its average volume of 1,547,881. The company has a quick ratio of 1.19, a current ratio of 1.34 and a debt-to-equity ratio of 35.17. The company has a 50 day moving average of C$7.23 and a 200-day moving average of C$6.16. IAMGOLD Co. has a 52 week low of C$2.87 and a 52 week high of C$8.80. The firm has a market cap of C$3.98 billion, a price-to-earnings ratio of 22.69, a PEG ratio of -0.28 and a beta of 1.47.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on IMG shares. Stifel Nicolaus boosted their price objective on IAMGOLD from C$6.00 to C$9.00 in a research note on Monday, October 21st. Royal Bank of Canada lowered IAMGOLD from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, September 10th. National Bank Financial raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Finally, National Bankshares increased their price objective on IAMGOLD from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$6.91.

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.