IAMGOLD (TSE:IMG) Upgraded 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 report published on Tuesday, Zacks.com reports.

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

IAMGOLD Price Performance

Shares of TSE:IMG opened at C$8.31 on Tuesday. The company has a market cap of C$4.74 billion, a price-to-earnings ratio of 25.97, a PEG ratio of -0.28 and a beta of 1.47. The business has a 50 day moving average price of C$7.02 and a 200 day moving average price of C$5.92. The company has a quick ratio of 1.19, a current ratio of 1.34 and a debt-to-equity ratio of 35.17. IAMGOLD has a twelve month low of C$2.87 and a twelve month high of C$8.80.

IAMGOLD (TSE:IMG) (NYSE:IAG) last posted its quarterly earnings data on Thursday, August 8th. The mining company reported C$0.22 earnings per share for the quarter, beating the consensus estimate of C$0.12 by C$0.10. The company 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%. Research analysts predict that IAMGOLD will post 1.1121076 earnings per share for the current year.

Insider Activity

In related news, Senior Officer Bruno Lemelin sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of C$7.09, for a total transaction of C$99,206.80. Corporate 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.