IAMGOLD (TSE:IMG) Price Target Raised to C$38.00

IAMGOLD (TSE:IMG) (NYSE:IAG) had its price target hoisted by equities researchers at Bank of America from C$32.50 to C$38.00 in a note issued to investors on Thursday,BayStreet.CA reports. Bank of America‘s price objective suggests a potential upside of 16.92% from the stock’s current price.

A number of other brokerages have also recently commented on IMG. TD Securities upped their price target on IAMGOLD from C$34.00 to C$36.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Stifel Nicolaus lifted their price objective on shares of IAMGOLD from C$28.00 to C$40.00 in a research note on Tuesday, February 10th. Finally, National Bank Financial upped their target price on shares of 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 research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, IAMGOLD presently has a consensus rating of “Buy” and an average price target of C$31.25.

IAMGOLD Price Performance

IMG stock traded up C$1.07 during trading on Thursday, hitting C$32.50. 1,348,062 shares of the stock traded hands, compared to its average volume of 2,504,961. The stock has a market cap of C$19.27 billion, a price-to-earnings ratio of 57.02, a P/E/G ratio of -0.28 and a beta of 1.60. The company has a 50 day simple moving average of C$26.20 and a 200 day simple moving average of C$20.20. The company has a current ratio of 0.89, a quick ratio of 1.19 and a debt-to-equity ratio of 28.93. IAMGOLD has a one year low of C$7.27 and a one year high of C$32.82.

IAMGOLD (TSE:IMG) (NYSE:IAG) last issued its quarterly earnings data on Tuesday, February 17th. The mining company reported C$0.96 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%. Equities analysts expect 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.