TD Securities Forecasts Strong Price Appreciation for IAMGOLD (TSE:IMG) Stock

IAMGOLD (TSE:IMG) (NYSE:IAG) had its target price upped by equities researchers at TD Securities from C$34.00 to C$36.00 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the mining company’s stock. TD Securities’ target price indicates a potential upside of 18.34% from the company’s current price.

IMG has been the subject of several other research reports. Stifel Nicolaus increased their price target on shares of IAMGOLD from C$28.00 to C$40.00 in a research report on Tuesday, February 10th. National Bank Financial upped their price objective on IAMGOLD from C$28.00 to C$34.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, IAMGOLD presently has an average rating of “Buy” and an average price target of C$27.50.

IAMGOLD Stock Down 0.8%

Shares of IMG stock opened at C$30.42 on Thursday. IAMGOLD has a one year low of C$7.27 and a one year high of C$31.57. The company has a debt-to-equity ratio of 28.93, a current ratio of 0.89 and a quick ratio of 1.19. The stock has a fifty day moving average price of C$25.64 and a 200 day moving average price of C$19.69. The stock has a market cap of C$18.04 billion, a P/E ratio of 53.37, a price-to-earnings-growth ratio of -0.28 and a beta of 1.60.

IAMGOLD (TSE:IMG) (NYSE:IAG) last announced its quarterly earnings results on Tuesday, February 17th. The mining company reported C$0.96 earnings per share (EPS) for the quarter. The firm had revenue of C$1.46 billion for the quarter. IAMGOLD had a net margin of 49.57% and a return on equity of 27.91%. Analysts predict that IAMGOLD will post 1.1121076 earnings per share for the current 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.