IAMGOLD (TSE:IMG) Given New C$5.50 Price Target at Canaccord Genuity Group

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

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

IAMGOLD Stock Up 7.3 %

Shares of IAMGOLD stock traded up C$0.35 during trading hours on Tuesday, reaching C$5.14. 1,661,281 shares of the company were exchanged, compared to its average volume of 1,269,188. IAMGOLD has a 1 year low of C$2.71 and a 1 year high of C$5.38. The stock’s fifty day moving average is C$4.23 and its 200 day moving average is C$3.62. The company has a debt-to-equity ratio of 42.05, a quick ratio of 1.19 and a current ratio of 1.20. The firm has a market cap of C$2.55 billion, a PE ratio of 21.33, a PEG ratio of -0.28 and a beta of 1.44.

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

About IAMGOLD

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.