National Bank Financial Issues Positive Forecast for IAMGOLD (TSE:IMG) Stock Price

Key Points

• National Bank Financial raised IAMGOLD’s price target to C$32 from C$31 while maintaining an “outperform” rating, implying 25.34% upside from the prior close. BMO Capital Markets also lifted its target to C$32, and analysts maintain a consensus “Buy” rating.
• IAMGOLD shares traded at C$25.53, with a C$14.58 billion market capitalization and a one-year range of C$9.80 to C$34.09. The company reported C$0.60 in quarterly EPS and C$1.22 billion in revenue.
• Insiders have been buying shares: executives and directors acquired 28,023 shares worth approximately C$651,257 over the past 90 days, though insiders collectively own only 0.10% of the company.

IAMGOLD (TSE:IMG - Get Free Report) NYSE: IAG had its price target increased by investment analysts at National Bank Financial from C$31.00 to C$32.00 in a report released on Monday,BayStreet.CA reports. The firm currently has an "outperform" rating on the mining company's stock. National Bank Financial's price target would indicate a potential upside of 25.34% from the company's previous close.

Separately, BMO Capital Markets boosted their price target on IAMGOLD from C$27.00 to C$32.00 in a research note on Wednesday, April 22nd. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of C$31.07.

IAMGOLD Price Performance

Shares of IMG stock traded down C$0.03 during trading on Monday, hitting C$25.53. The company had a trading volume of 1,044,942 shares, compared to its average volume of 1,963,403. The firm has a market capitalization of C$14.58 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of -0.28 and a beta of 2.15. IAMGOLD has a one year low of C$9.80 and a one year high of C$34.09. The company has a debt-to-equity ratio of 15.02, a quick ratio of 1.19 and a current ratio of 1.89. The stock's 50-day moving average price is C$22.15 and its 200 day moving average price is C$25.02.

IAMGOLD (TSE:IMG - Get Free Report) NYSE: IAG last announced its quarterly earnings data on Thursday, August 6th. The mining company reported C$0.60 earnings per share for the quarter. The firm had revenue of C$1.22 billion during the quarter. IAMGOLD had a return on equity of 26.05% and a net margin of 29.53%. Equities analysts expect that IAMGOLD will post 1.1121076 EPS for the current fiscal year.

Insider Activity at IAMGOLD

In other IAMGOLD news, insider Ankit Shah acquired 9,657 shares of IAMGOLD stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average cost of C$26.03 per share, with a total value of C$251,371.71. Following the completion of the purchase, the insider directly owned 9,657 shares of the company's stock, valued at C$251,371.71. This represents a ∞ increase in their position. Also, Director Renaud Adams bought 13,700 shares of the firm's stock in a transaction on Monday, June 8th. The stock was acquired at an average price of C$21.89 per share, for a total transaction of C$299,893.00. Following the transaction, the director owned 646,867 shares of the company's stock, valued at approximately C$14,159,918.63. The trade was a 2.16% increase in their ownership of the stock. Over the last 90 days, insiders have acquired 28,023 shares of company stock valued at $651,257. Company insiders own 0.10% of the company's stock.

About IAMGOLD

IAMGOLD is an intermediate gold producer and developer based in Canada with operating mines in North America and West Africa, including Côté Gold (Canada), Westwood (Canada) and Essakane (Burkina Faso). The Côté Gold Mine is among the largest gold mines in production in Canada, which IAMGOLD operates in a 70|30 partnership with Sumitomo Metal Mining Co Ltd. ('SMM'). In addition, the Company has an established portfolio of early stage and advanced exploration projects within high potential mining districts, including the large-scale Nelligan Mining Complex located in Quebec, Canada.

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