IAMGOLD (TSE:IMG) Upgraded to Strong-Buy by 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 report sent to investors on Tuesday morning, Zacks.com reports.

Several other brokerages have also recently weighed in on IMG. Royal Bank of Canada cut IAMGOLD from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, September 10th. National Bank Financial upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. Stifel Nicolaus lifted their price target on IAMGOLD from C$6.00 to C$9.00 in a research report on Monday. Finally, National Bankshares upgraded IAMGOLD from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from C$8.50 to C$11.00 in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, IAMGOLD currently has a consensus rating of “Buy” and a consensus target price of C$6.74.

IAMGOLD Stock Performance

Shares of IMG opened at C$8.44 on Tuesday. The firm has a market cap of C$4.81 billion, a PE ratio of 26.38, a PEG ratio of -0.28 and a beta of 1.47. The stock’s fifty day moving average price is C$6.97 and its two-hundred day moving average price is C$5.89. The company has a debt-to-equity ratio of 35.17, a current ratio of 1.34 and a quick ratio of 1.19. IAMGOLD has a 1 year low of C$2.87 and a 1 year high of C$8.80.

IAMGOLD (TSE:IMG) (NYSE:IAG) last issued its earnings results on Thursday, August 8th. The mining company reported C$0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.12 by C$0.10. The firm had revenue of C$527.18 million for the quarter. IAMGOLD had a return on equity of 5.86% and a net margin of 10.36%. On average, equities research analysts forecast that IAMGOLD will post 1.1121076 EPS for the current year.

Insider Transactions at IAMGOLD

In other news, Senior Officer Bruno Lemelin sold 14,000 shares of the company’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.