IAMGOLD (TSE:IMG) Price Target Raised to C$4.50

IAMGOLD (TSE:IMGGet Rating) (NYSE:IAG) had its target price raised by equities researchers at Canaccord Genuity Group from C$4.00 to C$4.50 in a research report issued to clients and investors on Friday, BayStreet.CA reports. Canaccord Genuity Group’s target price suggests a potential upside of 14.21% from the stock’s previous close.

Several other analysts also recently issued reports on the company. National Bank Financial cut their price target on IAMGOLD to C$4.50 and set an “outperform” rating on the stock in a report on Monday, January 17th. Royal Bank of Canada downgraded IAMGOLD from a “sector perform” rating to a “sell” rating and set a C$2.00 price target on the stock. in a report on Wednesday. TD Securities lifted their target price on IAMGOLD from C$5.00 to C$5.50 in a research note on Wednesday, January 26th. BMO Capital Markets downgraded IAMGOLD from an “outperform” rating to a “hold” rating and set a C$2.75 target price on the stock. in a research note on Monday. Finally, National Bankshares lifted their target price on IAMGOLD from C$5.00 to C$5.50 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, IAMGOLD presently has a consensus rating of “Hold” and a consensus price target of C$4.09.

Shares of TSE IMG traded down C$0.07 during mid-day trading on Friday, hitting C$3.94. The company had a trading volume of 1,270,589 shares, compared to its average volume of 1,334,160. The stock has a market cap of C$1.89 billion and a price-to-earnings ratio of -5.85. IAMGOLD has a 12 month low of C$2.75 and a 12 month high of C$4.74. The company has a debt-to-equity ratio of 22.87, a current ratio of 1.64 and a quick ratio of 1.03. The firm’s 50 day simple moving average is C$4.22 and its two-hundred day simple moving average is C$3.80.

IAMGOLD (TSE:IMGGet Rating) (NYSE:IAG) last announced its quarterly earnings results on Wednesday, February 23rd. The mining company reported C$0.11 earnings per share (EPS) for the quarter. The company had revenue of C$371.42 million during the quarter. Equities analysts forecast that IAMGOLD will post 0.18 earnings per share for the current year.

In other news, Senior Officer Peter Gordon Stothart purchased 22,057 shares of the stock in a transaction dated Tuesday, March 15th. The shares were bought at an average cost of C$4.28 per share, for a total transaction of C$94,403.96. Following the transaction, the insider now owns 438,227 shares in the company, valued at C$1,875,611.56. Also, Senior Officer Benjamin Richard Little sold 22,000 shares of IAMGOLD stock in a transaction on Monday, February 28th. The stock was sold at an average price of C$3.73, for a total value of C$82,060.00. Following the completion of the transaction, the insider now owns 38,617 shares in the company, valued at C$144,041.41.

About IAMGOLD (Get Rating)

IAMGOLD Corporation, through its subsidiaries, explores, develops, and operates gold mining properties in North America, South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine situated in Burkina Faso and Boto gold project located in Senegal, West Africa; and Westwood mine, covers an area of 1,925 hectare and located in Quebec and the Côté gold project, which covers an area of 586 square kilometer located in Ontario, Canada.

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