IAMGOLD Co. (TSE:IMG) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• IAMGOLD Co. has received a consensus rating of "Buy" from seven research firms, with an average target price of C$15.63.
• Recent analyst reports include upgrades from Bank of America, which raised their price target to C$15.50, and Cormark, which increased theirs to C$20.00.
• The company's shares are currently trading at C$15.22, reflecting a market capitalization of C$8.75 billion and a price-to-earnings ratio of 10.64.

IAMGOLD Co. (TSE:IMG - Get Free Report) NYSE: IAG has received an average rating of "Buy" from the seven ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating, two have issued a buy rating and four have issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is C$15.63.

A number of brokerages have commented on IMG. Cormark boosted their price objective on IAMGOLD from C$16.50 to C$20.00 in a research note on Tuesday. Bank of America lifted their target price on IAMGOLD from C$13.00 to C$15.50 in a research report on Friday, August 29th. National Bankshares lifted their target price on IAMGOLD from C$15.00 to C$16.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 24th. Raymond James Financial raised IAMGOLD to a "hold" rating in a research report on Monday, June 30th. Finally, Royal Bank Of Canada raised IAMGOLD from a "hold" rating to a "moderate buy" rating in a report on Wednesday, September 10th.

IAMGOLD Stock Up 3.1%

Shares of IMG traded up C$0.47 during midday trading on Thursday, reaching C$15.67. 4,432,996 shares of the company were exchanged, compared to its average volume of 2,074,476. The stock has a 50-day moving average price of C$11.75 and a 200-day moving average price of C$10.25. The company has a market cap of C$9.01 billion, a price-to-earnings ratio of 10.96, a P/E/G ratio of -0.28 and a beta of 1.11. IAMGOLD has a 1-year low of C$6.07 and a 1-year high of C$15.98. The company has a current ratio of 0.89, a quick ratio of 1.19 and a debt-to-equity ratio of 28.93.

About IAMGOLD

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.