IAMGOLD (TSE:IMG) Lifted to “Strong-Buy” at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of IAMGOLD (TSE:IMG) (NYSE:IAG) from a hold rating to a strong-buy rating in a research note published on Tuesday morning, Zacks.com reports.

Other research analysts have also issued research reports about the stock. National Bankshares upgraded shares of IAMGOLD from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from C$8.50 to C$11.00 in a research note on Thursday, October 10th. Royal Bank of Canada downgraded shares of IAMGOLD from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, September 10th. National Bank Financial raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, Stifel Nicolaus upped their target price on IAMGOLD from C$6.00 to C$9.00 in a research report on Monday. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, IAMGOLD currently has an average rating of “Buy” and a consensus price target of C$6.91.

IAMGOLD Stock Performance

Shares of IAMGOLD stock opened at C$8.31 on Tuesday. IAMGOLD has a 12 month low of C$2.87 and a 12 month high of C$8.80. 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 stock has a market cap of C$4.74 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47. The business has a fifty day simple moving average of C$7.02 and a 200-day simple moving average of C$5.92.

IAMGOLD (TSE:IMG) (NYSE:IAG) last announced its quarterly earnings data on Thursday, August 8th. The mining company reported C$0.22 EPS for the quarter, topping analysts’ consensus estimates of C$0.12 by C$0.10. The firm had revenue of C$527.18 million during the quarter. IAMGOLD had a return on equity of 5.86% and a net margin of 10.36%. On average, sell-side analysts anticipate that IAMGOLD will post 1.1121076 EPS for the current fiscal year.

Insiders Place Their Bets

In other IAMGOLD news, Senior Officer Bruno Lemelin sold 14,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of C$7.09, for a total value of C$99,206.80. Company insiders own 0.10% of the company’s stock.

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.