IAMGOLD (TSE:IMG) Price Target Raised to C$34.00

IAMGOLD (TSE:IMG) (NYSE:IAG) had its price objective lifted by investment analysts at TD Securities from C$24.00 to C$34.00 in a research report issued on Thursday,BayStreet.CA reports. TD Securities’ price target suggests a potential upside of 22.61% from the stock’s current price.

Several other research firms also recently weighed in on IMG. Stifel Nicolaus raised IAMGOLD from a “hold” rating to a “buy” rating and increased their price objective for the company from C$11.00 to C$28.00 in a report on Monday, October 20th. Canaccord Genuity Group increased their price target on shares of IAMGOLD from C$15.50 to C$19.50 in a research note on Thursday, October 2nd. Finally, National Bankshares raised their price objective on shares of IAMGOLD from C$23.00 to C$28.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$24.17.

IAMGOLD Stock Up 4.1%

Shares of TSE:IMG traded up C$1.10 on Thursday, hitting C$27.73. 1,462,463 shares of the company’s stock were exchanged, compared to its average volume of 2,378,734. IAMGOLD has a 1-year low of C$7.27 and a 1-year high of C$28.23. The company has a market capitalization of C$16.44 billion, a PE ratio of 48.65, a P/E/G ratio of -0.28 and a beta of 1.49. 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 firm’s 50-day moving average is C$22.25 and its 200 day moving average is C$16.92.

IAMGOLD (TSE:IMG) (NYSE:IAG) last posted its earnings results on Tuesday, November 4th. The mining company reported C$0.30 EPS for the quarter. IAMGOLD had a net margin of 49.57% and a return on equity of 27.91%. The firm had revenue of C$984.02 million for the quarter. Sell-side analysts predict that IAMGOLD will post 1.1121076 EPS for the current year.

About IAMGOLD

Iamgold Corp is a mid-tier gold mining company operating in three regions globally North America, South America and West Africa. Within these regions, the company is developing potential mining districts that encompass operating mines and construction, development and exploration projects. The company’s operating mines include Essakane in Burkina Faso, Rosebel in Suriname and Westwood in Canada. A solid base of strategic assets is complemented by the Cote Gold construction project in Canada, the Boto Gold development project in Senegal, as well as greenfield and brownfield exploration projects in various countries located in the Americas and West Africa.