IAMGOLD (TSE:IMG) Stock Price Expected to Rise, Bank of America Analyst Says

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

A number of other research analysts have also recently commented on IMG. Stifel Nicolaus increased their price target on IAMGOLD from C$28.00 to C$40.00 in a research note on Tuesday, February 10th. TD Securities upped their price objective 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. Finally, National Bank Financial raised their price objective on shares of IAMGOLD from C$28.00 to C$34.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$31.25.

IAMGOLD Price Performance

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

IAMGOLD (TSE:IMG) (NYSE:IAG) last issued its earnings results on Tuesday, February 17th. The mining company reported C$0.96 EPS for the quarter. The firm had revenue of C$1.46 billion during the quarter. IAMGOLD had a return on equity of 27.91% and a net margin of 49.57%. As a group, research analysts anticipate 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.