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

IAMGOLD (TSE:IMG) (NYSE:IAG) had its price target increased by equities researchers 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 target indicates a potential upside of 13.23% from the company’s previous close.

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

IAMGOLD Stock Up 2.8%

IMG stock opened at C$33.56 on Thursday. The company has a market cap of C$19.76 billion, a price-to-earnings ratio of 29.44, a P/E/G ratio of -0.28 and a beta of 1.60. IAMGOLD has a twelve month low of C$7.27 and a twelve month high of C$33.64. The business has a 50 day moving average price of C$26.62 and a two-hundred day moving average price of C$20.44. The company has a quick ratio of 1.19, a current ratio of 0.89 and a debt-to-equity ratio of 28.93.

IAMGOLD (TSE:IMG) (NYSE:IAG) last released its quarterly earnings data on Tuesday, February 17th. The mining company reported C$0.96 EPS for the quarter. The company 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%. Analysts anticipate 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.