Stifel Canada Upgrades IAMGOLD (TSE:IMG) to Strong-Buy

Key Points

• Stifel Canada has upgraded IAMGOLD from a "hold" rating to a "strong-buy" rating, reflecting positive investor sentiment.
• Analysts are bullish on IAMGOLD, with Bank of America raising its target price from C$13.00 to C$15.50 and Cormark increasing it from C$16.50 to C$20.00.
• The stock has been rated with an average of "Buy" by market analysts, while the average target price is C$21.20.

IAMGOLD (TSE:IMG - Get Free Report) NYSE: IAG was upgraded by Stifel Canada from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Monday,Zacks.com reports.

Several other analysts also recently commented on IMG. Bank of America lifted their target price on shares of IAMGOLD from C$13.00 to C$15.50 in a report on Friday, August 29th. Cormark lifted their target price on shares of IAMGOLD from C$16.50 to C$20.00 in a report on Tuesday, September 16th. Royal Bank Of Canada raised shares of IAMGOLD from a "hold" rating to a "moderate buy" rating in a report on Wednesday, September 10th. Canaccord Genuity Group lifted their target price on shares of IAMGOLD from C$15.50 to C$19.50 in a report on Thursday, October 2nd. Finally, Raymond James Financial raised shares of IAMGOLD to a "hold" rating in a report on Monday, June 30th. Five investment 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 company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of C$21.20.

IAMGOLD Stock Performance

Shares of IMG opened at C$19.17 on Monday. The firm has a 50-day moving average of C$15.24 and a 200-day moving average of C$11.68. IAMGOLD has a one year low of C$6.87 and a one year high of C$20.63. The company has a market cap of C$11.02 billion, a PE ratio of 13.41, a price-to-earnings-growth 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.

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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