National Bank Financial Upgrades IAMGOLD (TSE:IMG) to Strong-Buy

IAMGOLD (TSE:IMG) (NYSE:IAG) was upgraded by investment analysts at National Bank Financial from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday, Zacks.com reports.

Other analysts also recently issued reports about the stock. Canaccord Genuity Group lifted their price objective on shares of IAMGOLD from C$5.50 to C$6.00 in a report on Tuesday, July 23rd. Royal Bank of Canada downgraded shares of IAMGOLD from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Finally, National Bankshares raised shares of IAMGOLD from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from C$8.50 to C$11.00 in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, IAMGOLD has a consensus rating of “Moderate Buy” and an average price target of C$6.12.

IAMGOLD Stock Up 7.2 %

IMG opened at C$6.68 on Wednesday. The company has a fifty day moving average price of C$6.62 and a 200-day moving average price of C$5.71. The firm has a market capitalization of C$3.81 billion, a P/E ratio of 20.88, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47. The company has a debt-to-equity ratio of 35.17, a current ratio of 1.34 and a quick ratio of 1.19. IAMGOLD has a one year low of C$2.87 and a one year high of C$7.55.

IAMGOLD (TSE:IMG) (NYSE:IAG) last released its quarterly earnings results on Thursday, August 8th. The mining company reported C$0.22 EPS for the quarter, beating analysts’ consensus estimates of C$0.12 by C$0.10. The firm had revenue of C$527.18 million during the quarter. IAMGOLD had a net margin of 10.36% and a return on equity of 5.86%. Equities research analysts expect that IAMGOLD will post 1.1121076 earnings per share for the current fiscal year.

Insider Activity at IAMGOLD

In other IAMGOLD news, Senior Officer Bruno Lemelin sold 14,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of C$7.09, for a total value of C$99,206.80. 0.10% of the stock is owned by corporate insiders.

IAMGOLD Company Profile

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.