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

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

Several other research analysts have also recently issued reports on the stock. Royal Bank of Canada cut shares of IAMGOLD from a “moderate buy” rating to a “hold” rating in a report on Tuesday, September 10th. National Bankshares raised shares of IAMGOLD from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$8.50 to C$11.00 in a research report on Thursday. Finally, Canaccord Genuity Group raised their price target on shares of IAMGOLD from C$5.50 to C$6.00 in a research report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$6.12.

IAMGOLD Price Performance

IMG opened at C$6.68 on Wednesday. The stock has a fifty day moving average of C$6.62 and a 200-day moving average of C$5.71. The firm has a market capitalization of C$3.81 billion, a P/E ratio of 20.88, a PEG ratio of -0.28 and a beta of 1.47. IAMGOLD has a 12-month low of C$2.87 and a 12-month high of C$7.55. The company has a quick ratio of 1.19, a current ratio of 1.34 and a debt-to-equity ratio of 35.17.

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

Insiders Place Their Bets

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

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.