IAMGOLD (TSE:IMG) Price Target Raised to C$12.00 at National Bankshares

IAMGOLD (TSE:IMG) (NYSE:IAG) had its price objective lifted by National Bankshares from C$11.00 to C$12.00 in a research report sent to investors on Wednesday morning, BayStreet.CA reports. National Bankshares currently has an outperform rating on the mining company’s stock.

Several other analysts have also recently commented on IMG. Stifel Nicolaus raised their target price on shares of IAMGOLD from C$6.00 to C$9.00 in a research note on Monday. National Bank Financial upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada downgraded shares of IAMGOLD from a “moderate buy” rating to a “hold” rating in a report on Tuesday, September 10th. Finally, Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Two equities research 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 company’s stock. Based on data from MarketBeat, IAMGOLD has an average rating of “Buy” and an average price target of C$6.91.

IAMGOLD Price Performance

Shares of IMG stock opened at C$8.22 on Wednesday. The firm’s 50-day moving average is C$7.02 and its two-hundred day moving average is C$5.92. The company has a market capitalization of C$4.69 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47. IAMGOLD has a 12 month low of C$2.87 and a 12 month high of C$8.80. 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 (TSE:IMG) (NYSE:IAG) last announced its quarterly earnings data 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 firm had revenue of C$527.18 million during the quarter. IAMGOLD had a net margin of 10.36% and a return on equity of 5.86%. Analysts predict that IAMGOLD will post 1.1121076 earnings per share for the current year.

Insider Buying and Selling

In other IAMGOLD news, Senior Officer Bruno Lemelin sold 14,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were 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.