Canaccord Genuity Group Raises IAMGOLD (TSE:IMG) Price Target to C$6.00

IAMGOLD (TSE:IMG) (NYSE:IAG) had its price target boosted by Canaccord Genuity Group from C$5.50 to C$6.00 in a report released on Tuesday, BayStreet.CA reports. Canaccord Genuity Group’s target price would indicate a potential upside of 6.95% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. National Bankshares lifted their price objective on IAMGOLD from C$6.50 to C$6.75 and gave the company a “sector perform” rating in a research note on Monday, May 13th. Bank of America lifted their price target on IAMGOLD from C$4.40 to C$6.20 in a research report on Tuesday, April 9th. Stifel Nicolaus upped their price target on shares of IAMGOLD from C$3.00 to C$5.25 in a research note on Friday, April 19th. Finally, National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research note on Monday, April 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, IAMGOLD presently has a consensus rating of “Hold” and an average target price of C$5.09.

IAMGOLD Price Performance

TSE IMG remained flat at C$5.61 during trading hours on Tuesday. 331,051 shares of the company were exchanged, compared to its average volume of 1,412,122. IAMGOLD has a one year low of C$2.71 and a one year high of C$6.24. The company has a current ratio of 0.91, a quick ratio of 1.19 and a debt-to-equity ratio of 40.77. The business’s 50-day simple moving average is C$5.41 and its 200-day simple moving average is C$4.57. The company has a market cap of C$2.79 billion, a price-to-earnings ratio of 14.76, a PEG ratio of -0.28 and a beta of 1.51.

IAMGOLD (TSE:IMG) (NYSE:IAG) last announced its earnings results on Thursday, May 9th. The mining company reported C$0.15 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.03 by C$0.12. IAMGOLD had a net margin of 12.48% and a return on equity of 6.57%. The business had revenue of C$456.89 million during the quarter. Sell-side analysts forecast that IAMGOLD will post 0.3658863 EPS for the current fiscal 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.