IAMGOLD (TSE:IMG) Raised to Strong-Buy at Canaccord Genuity Group

IAMGOLD (TSE:IMG) (NYSE:IAG) was upgraded by equities researchers at Canaccord Genuity Group from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, Zacks.com reports.

IMG has been the topic of a number of other research reports. National Bankshares raised IAMGOLD from a “sector perform” rating to an “outperform” rating and increased their target price for the company from C$8.50 to C$11.00 in a research note on Thursday, October 10th. National Bank Financial raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Stifel Nicolaus upped their target price on IAMGOLD from C$6.00 to C$9.00 in a research note on Monday. Finally, 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. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$6.74.

IAMGOLD Price Performance

IAMGOLD stock opened at C$8.44 on Tuesday. The stock has a market cap of C$4.81 billion, a price-to-earnings ratio of 26.38, a PEG ratio of -0.28 and a beta of 1.47. 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 business has a 50-day simple moving average of C$6.97 and a 200 day simple moving average of C$5.89. IAMGOLD has a 52 week low of C$2.87 and a 52 week 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, topping the consensus estimate of C$0.12 by C$0.10. IAMGOLD had a net margin of 10.36% and a return on equity of 5.86%. The company had revenue of C$527.18 million for the quarter. On average, research analysts forecast that IAMGOLD will post 1.1121076 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Senior Officer Bruno Lemelin sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of C$7.09, for a total value of C$99,206.80. Insiders own 0.10% of the company’s stock.

About IAMGOLD

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.