IAMGOLD (TSE:IMG) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Key Points

• Canaccord Genuity Group has raised its target price for IAMGOLD from C$15.50 to C$19.50, indicating a potential upside of 6.79% from the previous close.
• Multiple brokerages have upgraded IAMGOLD's ratings, with Royal Bank of Canada moving it from "hold" to "moderate buy" and National Bankshares issuing an "outperform" rating with a price target of C$21.00.
• IAMGOLD's stock recently traded at C$18.26 after a slight increase of 0.3%, with the company having a market capitalization of about C$10.50 billion.

IAMGOLD (TSE:IMG - Get Free Report) NYSE: IAG had its target price increased by Canaccord Genuity Group from C$15.50 to C$19.50 in a research note issued to investors on Thursday,BayStreet.CA reports. Canaccord Genuity Group's price target suggests a potential upside of 6.79% from the stock's previous close.

A number of other brokerages also recently weighed in on IMG. Royal Bank Of Canada raised shares of IAMGOLD from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, September 10th. Raymond James Financial upgraded shares of IAMGOLD to a "hold" rating in a report on Monday, June 30th. Bank of America raised their target price on IAMGOLD from C$13.00 to C$15.50 in a research note on Friday, August 29th. National Bankshares raised their price objective on IAMGOLD from C$15.50 to C$21.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 24th. Finally, Cormark raised their target price on shares of IAMGOLD from C$16.50 to C$20.00 in a report on Tuesday, September 16th. Four research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, IAMGOLD currently has an average rating of "Buy" and a consensus price target of C$17.40.

IAMGOLD Stock Up 0.3%

Shares of TSE IMG traded up C$0.06 during midday trading on Thursday, reaching C$18.26. 2,234,659 shares of the company's stock were exchanged, compared to its average volume of 2,114,782. The company has a debt-to-equity ratio of 28.93, a quick ratio of 1.19 and a current ratio of 0.89. IAMGOLD has a 52-week low of C$6.07 and a 52-week high of C$18.54. The business's fifty day moving average price is C$12.93 and its two-hundred day moving average price is C$10.75. The stock has a market capitalization of C$10.50 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of -0.28 and a beta of 1.11.

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.

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