IAMGOLD (TSE:IMG) Shares Up 16.6% - What's Next?

Key Points

• Shares surged 16.6% intraday to C$25.84 (high C$25.87) from a C$22.16 close, on 756,490 shares traded—about 66% below the average session volume.
• Analysts lifted targets across the board (TD, National Bank, BMO, Stifel, Bank of America), leaving a MarketBeat consensus of "Moderate Buy" with an average target of C$32.07.
• Solid quarterly results and metrics: Q1 EPS C$0.93 on C$1.43B revenue, market cap C$14.69B and a trailing PE of 22.13, with analysts forecasting roughly C$1.11 EPS for the fiscal year.

IAMGOLD Co. (TSE:IMG - Get Free Report) NYSE: IAG's stock price shot up 16.6% during trading on Wednesday . The stock traded as high as C$25.87 and last traded at C$25.84. 756,490 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 2,215,315 shares. The stock had previously closed at C$22.16.

Analyst Upgrades and Downgrades

Several research firms have commented on IMG. TD Securities boosted their price target on shares of IAMGOLD from C$34.00 to C$36.00 and gave the stock a "buy" rating in a research note on Thursday, February 19th. National Bank Financial lifted their price objective on shares of IAMGOLD from C$36.00 to C$39.00 and gave the stock an "outperform" rating in a research report on Friday, April 17th. BMO Capital Markets lifted their price objective on shares of IAMGOLD from C$27.00 to C$32.00 in a research report on Wednesday, April 22nd. 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. Finally, Bank of America lifted their price objective on shares of IAMGOLD from C$32.50 to C$38.00 in a research report on Thursday, February 26th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, IAMGOLD has a consensus rating of "Moderate Buy" and an average target price of C$32.07.

IAMGOLD Trading Up 13.9%

The stock has a market capitalization of C$14.69 billion, a PE ratio of 22.13, a PEG ratio of -0.28 and a beta of 2.11. The company has a quick ratio of 1.19, a current ratio of 1.75 and a debt-to-equity ratio of 20.08. The business's 50-day moving average is C$26.73 and its two-hundred day moving average is C$24.06.

IAMGOLD (TSE:IMG - Get Free Report) NYSE: IAG last announced its quarterly earnings results on Tuesday, May 5th. The mining company reported C$0.93 earnings per share for the quarter. IAMGOLD had a net margin of 23.37% and a return on equity of 18.40%. The firm had revenue of C$1.43 billion during the quarter. On average, analysts anticipate that IAMGOLD Co. will post 1.1121076 earnings per share for the current fiscal year.

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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.