IAMGOLD (TSE:IMG) Upgraded to Strong-Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of IAMGOLD (TSE:IMG - Free Report) NYSE: IAG from a hold rating to a strong-buy rating in a report published on Tuesday, Zacks.com reports.

Several other research firms have also issued reports on IMG. National Bankshares raised IAMGOLD from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from C$8.50 to C$11.00 in a report on Thursday, October 10th. Royal Bank of Canada downgraded shares of IAMGOLD from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, September 10th. Stifel Nicolaus increased their price target on IAMGOLD from C$6.00 to C$9.00 in a research note on Monday. Finally, National Bank Financial raised IAMGOLD from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of C$6.91.

IAMGOLD Trading Down 2.6 %

TSE:IMG traded down C$0.22 during midday trading on Tuesday, reaching C$8.22. 2,132,131 shares of the stock traded hands, compared to its average volume of 1,555,107. The company has a debt-to-equity ratio of 35.17, a quick ratio of 1.19 and a current ratio of 1.34. IAMGOLD has a 12 month low of C$2.87 and a 12 month high of C$8.80. The stock has a market capitalization of C$4.69 billion, a P/E ratio of 25.69, a PEG ratio of -0.28 and a beta of 1.47. The company has a fifty day moving average of C$7.02 and a 200 day moving average of C$5.92.

IAMGOLD (TSE:IMG - Get Free Report) NYSE: IAG last issued its quarterly earnings results on Thursday, August 8th. The mining company reported C$0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.12 by C$0.10. The company had revenue of C$527.18 million during the quarter. IAMGOLD had a net margin of 10.36% and a return on equity of 5.86%. On average, research analysts predict that IAMGOLD will post 1.1121076 EPS for the current year.

Insiders Place Their Bets

In other IAMGOLD news, Senior Officer Bruno Lemelin sold 14,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of C$7.09, for a total value of C$99,206.80. Corporate insiders own 0.10% of the company's stock.

IAMGOLD Company Profile

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.