November 24, 2016 - By Linda Rogers
Canaccord Genuity currently has a $5.75 price target on the $2.01 billion market cap company or 19.79% upside potential. In a research report sent to clients and investors on 24 November, IAMGOLD Corporation (TSE:IMG) stock had its Sector Perform Rating reaffirmed by stock analysts at Canaccord Genuity.
Out of 5 analysts covering Iamgold Corp (TSE:IMG), 1 rate it a “Buy”, 2 “Sell”, while 2 “Hold”. This means 20% are positive. $7.50 is the highest target while $2 is the lowest. The $5.16 average target is 7.72% above today’s ($4.79) stock price. Iamgold Corp has been the topic of 9 analyst reports since August 6, 2015 according to StockzIntelligence Inc. TD Securities upgraded the shares of IMG in a report on Tuesday, November 8 to “Buy” rating. The rating was maintained by RBC Capital Markets with “Underperform” on Friday, January 29. The firm has “Sector Perform” rating given on Tuesday, November 8 by Scotia Capital. Canaccord Genuity upgraded the shares of IMG in a report on Thursday, August 6 to “Hold” rating. Mackie downgraded the stock to “Sell” rating in Friday, February 19 report.
About 587,937 shares traded hands. IAMGOLD Corp (TSE:IMG) has risen 29.57% since April 20, 2016 and is uptrending. It has outperformed by 24.16% the S&P500.
IAMGOLD Corporation is engaged in the exploration, development and production of mineral resource properties across the world. The company has a market cap of $2.01 billion. Through its holdings, IAMGOLD has interests in various activities and exploration properties, as well as various royalty interests on mineral resource properties. It currently has negative earnings. All gold produced by IAMGOLD is in the form of dore bars, which is sold to gold refineries in North America and Europe.
Another recent and important IAMGOLD Corp (TSE:IMG) news was published by Fool.com which published an article titled: “IAMGOLD Corp’s Stock Surges on Explosive Cash Flow Growth” on November 08, 2016.
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By Linda Rogers