Canaccord Genuity Group Raises IAMGOLD (TSE:IMG) Price Target to C$5.50

IAMGOLD (TSE:IMG) (NYSE:IAG) had its price target boosted by analysts at Canaccord Genuity Group from C$3.75 to C$5.50 in a research report issued on Tuesday, BayStreet.CA reports. Canaccord Genuity Group’s target price points to a potential upside of 7.00% from the stock’s previous close.

A number of other brokerages have also weighed in on IMG. Bank of America raised their price objective on IAMGOLD from C$4.40 to C$6.20 in a research report on Tuesday, April 9th. Stifel Nicolaus raised their price objective on IAMGOLD from C$3.00 to C$5.25 in a research report on Friday. National Bankshares lifted their price target on IAMGOLD from C$6.25 to C$6.50 in a research report on Friday. Finally, National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$4.99.

IAMGOLD Stock Performance

Shares of TSE IMG traded up C$0.35 during midday trading on Tuesday, hitting C$5.14. 1,661,281 shares of the stock traded hands, compared to its average volume of 1,269,188. The firm has a 50-day moving average of C$4.23 and a two-hundred day moving average of C$3.62. The firm has a market capitalization of C$2.55 billion, a P/E ratio of 21.33, a PEG ratio of -0.28 and a beta of 1.44. The company has a debt-to-equity ratio of 42.05, a quick ratio of 1.19 and a current ratio of 1.20. IAMGOLD has a one year low of C$2.71 and a one year high of C$5.38.

IAMGOLD (TSE:IMG) (NYSE:IAG) last issued its quarterly earnings results on Thursday, February 15th. The mining company reported C$0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.02 by C$0.06. The business had revenue of C$405.19 million during the quarter. IAMGOLD had a return on equity of 4.36% and a net margin of 9.55%. On average, equities analysts forecast that IAMGOLD will post 0.0746963 EPS for the current fiscal year.

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.