IAMGOLD (TSE:IMG) Rating Increased to Strong-Buy 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 research report sent to investors on Tuesday, Zacks.com reports.

A number of other research analysts have also commented on IMG. Royal Bank of Canada lowered IAMGOLD from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Stifel Nicolaus upped their price target on IAMGOLD from C$6.00 to C$9.00 in a research report on Monday. National Bank Financial raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, National Bankshares raised IAMGOLD from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$8.50 to C$11.00 in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$6.74.

IAMGOLD Trading Down 0.9 %

TSE IMG opened at C$8.44 on Tuesday. IAMGOLD has a 1-year low of C$2.87 and a 1-year high of C$8.80. The company has a current ratio of 1.34, a quick ratio of 1.19 and a debt-to-equity ratio of 35.17. The stock has a 50-day moving average of C$6.97 and a 200-day moving average of C$5.89. The firm has a market cap of C$4.81 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47.

IAMGOLD (TSE:IMG) (NYSE:IAG) last released its earnings results on Thursday, August 8th. The mining company reported C$0.22 earnings per share for the quarter, beating analysts’ consensus estimates 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%. As a group, sell-side analysts forecast that IAMGOLD will post 1.1121076 EPS for the current year.

Insiders Place Their Bets

In related news, Senior Officer Bruno Lemelin sold 14,000 shares of the company’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 value of C$99,206.80. Company 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.