IAMGOLD (TSE:IMG) Stock Rating Upgraded by Royal Bank Of Canada

Key Points

• The Royal Bank of Canada has upgraded IAMGOLD from a "hold" rating to a "moderate buy" rating.
• IAMGOLD shares have recently reached a 9.1% increase, with a current market capitalization of C$8.69 billion.
• Multiple analysts have positive ratings on IAMGOLD, with a consensus rating of "Buy" and an average target price of C$14.17.

Royal Bank Of Canada upgraded shares of IAMGOLD (TSE:IMG - Free Report) NYSE: IAG from a hold rating to a moderate buy rating in a research note published on Wednesday morning,Zacks.com reports.

IMG has been the subject of a number of other reports. Bank of America raised their price objective 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 report on Monday, June 30th. Finally, National Bankshares lifted their target price on IAMGOLD from C$15.00 to C$16.00 and gave the company an "outperform" rating in a research report on Tuesday, June 24th. Four research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of C$14.17.

IAMGOLD Trading Down 2.4%

Shares of TSE:IMG traded down C$0.37 during midday trading on Wednesday, reaching C$15.34. 1,579,084 shares of the company's stock were exchanged, compared to its average volume of 2,050,664. The firm's 50 day simple moving average is C$11.29 and its two-hundred day simple moving average is C$10.07. 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 stock has a market cap of C$8.82 billion, a price-to-earnings ratio of 10.73, a P/E/G ratio of -0.28 and a beta of 1.11. IAMGOLD has a fifty-two week low of C$6.07 and a fifty-two week high of C$15.98.

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.