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

IAMGOLD (TSE:IMG) (NYSE:IAG) had its price target increased by National Bankshares from C$28.00 to C$34.00 in a report issued on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the mining company’s stock. National Bankshares’ price objective would suggest a potential upside of 18.84% from the company’s current price.

Several other analysts also recently commented on IMG. TD Securities raised their price objective on shares of IAMGOLD from C$24.00 to C$34.00 in a research report on Thursday. Stifel Nicolaus raised shares of IAMGOLD from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$11.00 to C$28.00 in a research report on Monday, October 20th. Finally, Canaccord Genuity Group upped their target price on IAMGOLD from C$15.50 to C$19.50 in a report on Thursday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$25.17.

IAMGOLD Price Performance

IMG stock traded up C$1.02 during midday trading on Friday, reaching C$28.61. 1,323,078 shares of the stock were exchanged, compared to its average volume of 2,366,185. The company has a fifty day moving average price of C$22.42 and a 200 day moving average price of C$16.99. IAMGOLD has a 52 week low of C$7.27 and a 52 week high of C$28.95. The stock has a market capitalization of C$16.97 billion, a PE ratio of 50.19, a P/E/G ratio of -0.28 and a beta of 1.49. The company has a debt-to-equity ratio of 28.93, a current ratio of 0.89 and a quick ratio of 1.19.

IAMGOLD (TSE:IMG) (NYSE:IAG) last announced its earnings results on Tuesday, November 4th. The mining company reported C$0.30 earnings per share (EPS) for the quarter. The business had revenue of C$984.02 million during the quarter. IAMGOLD had a return on equity of 27.91% and a net margin of 49.57%. As a group, 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.