IAMGOLD (TSE:IMG) Stock Rating Upgraded 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 note released on Tuesday morning, Zacks.com reports.

A number of other equities research analysts have also issued reports on the stock. National Bankshares raised shares of IAMGOLD from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from C$8.50 to C$11.00 in a report on Thursday, October 10th. National Bank Financial raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Royal Bank of Canada lowered shares of IAMGOLD from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Finally, Stifel Nicolaus increased their price target on IAMGOLD from C$6.00 to C$9.00 in a report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$6.91.

IAMGOLD Stock Performance

TSE IMG opened at C$8.03 on Tuesday. 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. The company has a market cap of C$4.58 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47. The stock’s 50 day simple moving average is C$7.08 and its 200-day simple moving average is C$5.96.

IAMGOLD (TSE:IMG) (NYSE:IAG) last issued its earnings results on Thursday, August 8th. The mining company reported C$0.22 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of C$527.18 million during the quarter. As a group, equities research analysts anticipate that IAMGOLD will post 1.1121076 EPS for the current fiscal year.

Insider Activity at IAMGOLD

In other news, Senior Officer Bruno Lemelin sold 14,000 shares of IAMGOLD stock in a transaction on Friday, August 23rd. The shares were sold at an average price of C$7.09, for a total transaction of C$99,206.80. 0.10% of the stock is owned by corporate insiders.

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.