IAMGOLD Co. (TSE:IMG) Given Consensus Recommendation of “Buy” by Analysts

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) has been assigned an average rating of “Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$6.91.

A number of research analysts have commented on the stock. Stifel Nicolaus increased their price objective on shares of IAMGOLD from C$6.00 to C$9.00 in a research note on Monday, October 21st. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada lowered IAMGOLD from a “moderate buy” rating to a “hold” rating in a report on Tuesday, September 10th. National Bank Financial raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, National Bankshares boosted their price target on IAMGOLD from C$11.00 to C$12.00 and gave the company an “outperform” rating in a report on Wednesday.

IAMGOLD Trading Down 3.4 %

Shares of IMG opened at C$8.03 on Friday. IAMGOLD has a one year low of C$2.87 and a one year high of C$8.80. The stock has a 50-day moving average price of C$7.08 and a 200 day moving average price of C$5.96. The company has a debt-to-equity ratio of 35.17, a quick ratio of 1.19 and a current ratio of 1.34. The company has a market capitalization of C$4.58 billion, a P/E ratio of 25.09, a P/E/G 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 EPS for the quarter, beating the consensus estimate of C$0.12 by C$0.10. IAMGOLD had a return on equity of 5.86% and a net margin of 10.36%. The company had revenue of C$527.18 million during the quarter. Sell-side analysts forecast that IAMGOLD will post 1.1121076 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Senior Officer Bruno Lemelin sold 14,000 shares of the firm’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. 0.10% of the stock is currently owned by corporate insiders.

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.