Canaccord Genuity Group upgraded shares of IAMGOLD (TSE:IMG – Free Report) (NYSE:IAG) from a hold rating to a strong-buy rating in a research report released on Tuesday, Zacks.com reports.
A number of other research firms have also recently weighed in on IMG. National Bankshares raised IAMGOLD from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$8.50 to C$11.00 in a research report on Thursday, October 10th. Stifel Nicolaus increased their price target on IAMGOLD from C$6.00 to C$9.00 in a report on Monday, October 21st. Royal Bank of Canada cut shares of IAMGOLD from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Finally, National Bank Financial upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$6.91.
Read Our Latest Stock Report on IMG
IAMGOLD Stock Performance
IAMGOLD (TSE:IMG – Get Free Report) (NYSE:IAG) last posted its quarterly earnings data 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 company had revenue of C$527.18 million for the quarter. As a group, equities analysts forecast that IAMGOLD will post 1.1121076 earnings per share for the current year.
Insider Buying and Selling
In other news, Senior Officer Bruno Lemelin sold 14,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were 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.
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.
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