IAMGOLD Co. (TSE:IMG) Receives C$8.30 Average Price Target from Brokerages

Shares of IAMGOLD Co. (TSE:IMG) (NYSE:IAG) have been given an average rating of “Buy” by the six ratings firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and three have issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$8.30.

Several research analysts recently issued reports on IMG shares. National Bankshares decreased their price target on shares of IAMGOLD from C$12.50 to C$12.00 and set an “outperform” rating for the company in a research note on Thursday, January 9th. Raymond James raised shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, February 3rd. Stifel Nicolaus upped their price objective on IAMGOLD from C$6.00 to C$9.00 in a research report on Monday, October 21st. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd.

IAMGOLD Price Performance

Shares of IAMGOLD stock opened at C$9.15 on Wednesday. The company has a fifty day moving average of C$8.04 and a 200-day moving average of C$7.30. IAMGOLD has a 52-week low of C$3.15 and a 52-week high of C$9.68. The stock has a market capitalization of C$5.22 billion, a price-to-earnings ratio of 28.59, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47. The company has a debt-to-equity ratio of 35.17, a quick ratio of 1.19 and a current ratio of 1.34.

IAMGOLD (TSE:IMG) (NYSE:IAG) last released its quarterly earnings data on Thursday, November 7th. The mining company reported C$0.24 earnings per share for the quarter, topping the consensus estimate of C$0.15 by C$0.09. IAMGOLD had a return on equity of 5.86% and a net margin of 10.36%. During the same period in the previous year, the company posted ($0.01) earnings per share. Equities research analysts expect that IAMGOLD will post 1.1121076 EPS for the current year.

Insider Buying and Selling

In other IAMGOLD news, Senior Officer Timothy Bradburn sold 16,800 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of C$8.10, for a total value of C$136,080.00. Also, Director Renaud Adams acquired 36,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were bought at an average cost of C$6.95 per share, with a total value of C$250,102.80. 0.10% of the stock is currently owned by insiders.

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.