IAMGOLD (TSE:IMG) Raised to "Buy" at Stifel Nicolaus

Key Points

• IAMGOLD has been upgraded by Stifel Nicolaus from a "hold" to a "buy" rating, with a new price target of C$28.00, indicating a potential upside of 45.68% from its previous close.
• A number of analysts have also raised their price targets for IAMGOLD, with several now rating the stock a "Strong Buy" or "Buy," contributing to a consensus rating of "Buy" and a target of C$21.20.
• IAMGOLD's shares rose by 2.5% on Monday, hitting C$19.22, reflecting heightened investor interest as the stock's 1-year high is C$20.63.

IAMGOLD (TSE:IMG - Get Free Report) NYSE: IAG was upgraded by equities researchers at Stifel Nicolaus from a "hold" rating to a "buy" rating in a note issued to investors on Monday,BayStreet.CA reports. The firm currently has a C$28.00 price target on the mining company's stock, up from their previous price target of C$11.00. Stifel Nicolaus' price objective points to a potential upside of 45.68% from the company's previous close.

A number of other analysts have also recently issued reports on IMG. Bank of America upped their target price on IAMGOLD from C$13.00 to C$15.50 in a research report on Friday, August 29th. Raymond James Financial raised IAMGOLD to a "hold" rating in a research note on Monday, June 30th. Canaccord Genuity Group upped their price objective on IAMGOLD from C$15.50 to C$19.50 in a research note on Thursday, October 2nd. National Bankshares upped their price objective on IAMGOLD from C$21.00 to C$23.00 and gave the company an "outperform" rating in a research note on Wednesday, October 15th. Finally, Cormark increased their target price on IAMGOLD from C$16.50 to C$20.00 in a research note on Tuesday, September 16th. Four equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of C$21.20.

IAMGOLD Trading Up 2.5%

Shares of IMG stock traded up C$0.46 on Monday, hitting C$19.22. The stock had a trading volume of 2,350,858 shares, compared to its average volume of 2,183,147. IAMGOLD has a 1 year low of C$6.87 and a 1 year high of C$20.63. The firm has a market capitalization of C$11.05 billion, a P/E ratio of 13.44, a P/E/G ratio of -0.28 and a beta of 1.30. The company has a debt-to-equity ratio of 28.93, a current ratio of 0.89 and a quick ratio of 1.19. The company's 50 day moving average price is C$15.07 and its 200-day moving average price is C$11.60.

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.

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