National Bank Financial Forecasts Strong Price Appreciation for IAMGOLD (TSE:IMG) Stock

IAMGOLD (TSE:IMG) (NYSE:IAG) had its price objective lifted by National Bank Financial from C$36.00 to C$39.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the mining company’s stock. National Bank Financial’s price target indicates a potential upside of 47.90% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus upped their target price on shares of IAMGOLD from C$28.00 to C$40.00 in a report on Tuesday, February 10th. TD Securities upped their target price on shares of IAMGOLD from C$34.00 to C$36.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Finally, Bank of America upped their target price on shares of IAMGOLD from C$32.50 to C$38.00 in a report on Thursday, February 26th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, IAMGOLD currently has a consensus rating of “Moderate Buy” and an average price target of C$32.08.

IAMGOLD Price Performance

IAMGOLD stock opened at C$26.37 on Friday. IAMGOLD has a 52-week low of C$8.46 and a 52-week high of C$34.09. The firm has a market capitalization of C$15.35 billion, a price-to-earnings ratio of 23.13, a PEG ratio of -0.28 and a beta of 2.11. The company has a fifty day simple moving average of C$27.97 and a 200-day simple moving average of C$23.69. The company has a quick ratio of 1.19, a current ratio of 1.75 and a debt-to-equity ratio of 20.08.

IAMGOLD (TSE:IMG) (NYSE:IAG) last released its earnings results on Wednesday, February 18th. The mining company reported C$0.96 earnings per share (EPS) for the quarter. IAMGOLD had a net margin of 23.37% and a return on equity of 18.40%. The business had revenue of C$1.46 billion during the quarter. On average, equities analysts anticipate that IAMGOLD will post 1.1121076 EPS for the current fiscal year.

IAMGOLD Company Profile

Iamgold Corp is a mid-tier gold mining company operating in three regions globally North America, South America and West Africa. Within these regions, the company is developing potential mining districts that encompass operating mines and construction, development and exploration projects. The company’s operating mines include Essakane in Burkina Faso, Rosebel in Suriname and Westwood in Canada. A solid base of strategic assets is complemented by the Cote Gold construction project in Canada, the Boto Gold development project in Senegal, as well as greenfield and brownfield exploration projects in various countries located in the Americas and West Africa.