IAMGOLD Corp (IMG) Trading Up 9%

IAMGOLD Corp (TSE:IMG) (NYSE:IAG) shares were up 9% during mid-day trading on Wednesday . The company traded as high as C$7.55 and last traded at C$8.01. Approximately 2,515,387 shares were traded during mid-day trading, an increase of 80% from the average daily volume of 1,400,000 shares. The stock had previously closed at C$7.35.

A number of research analysts recently issued reports on IMG shares. Canaccord Genuity raised their target price on shares of IAMGOLD Corp from C$9.25 to C$9.50 in a research note on Thursday, July 27th. National Bank Financial raised their price objective on shares of IAMGOLD Corp from C$7.75 to C$8.50 and gave the stock an “outperform” rating in a report on Thursday, July 27th. TD Securities raised their price objective on shares of IAMGOLD Corp from C$8.50 to C$9.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. BMO Capital Markets reaffirmed an “outperform” rating and set a C$7.50 price objective on shares of IAMGOLD Corp in a report on Wednesday, August 23rd. Finally, Raymond James Financial, Inc. raised their price objective on shares of IAMGOLD Corp to C$9.00 and gave the stock a “market perform” rating in a report on Friday, September 8th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. IAMGOLD Corp has a consensus rating of “Hold” and a consensus price target of C$8.13.

In other news, insider Craig Stephen Macdougall sold 14,000 shares of IAMGOLD Corp stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of C$8.27, for a total transaction of C$115,780.00.

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IAMGOLD Corp Company Profile

IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.

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