National Bankshares Forecasts Strong Price Appreciation for IAMGOLD (TSE:IMG) Stock

IAMGOLD (TSE:IMG) (NYSE:IAG) had its price target hoisted by equities researchers at National Bankshares from C$23.00 to C$28.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the mining company’s stock. National Bankshares’ price objective would indicate a potential upside of 31.15% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Stifel Canada upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Bank of America increased their target price on IAMGOLD from C$13.00 to C$15.50 in a research note on Friday, August 29th. Canaccord Genuity Group lifted their price target on IAMGOLD from C$15.50 to C$19.50 in a research report on Thursday, October 2nd. Stifel Nicolaus upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and upped their price target for the stock from C$11.00 to C$28.00 in a research note on Monday, October 20th. Finally, Cormark increased their price objective on shares of IAMGOLD from C$16.50 to C$20.00 in a research report on Tuesday, September 16th. Three analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$22.20.

IAMGOLD Trading Up 1.6%

Shares of TSE IMG opened at C$21.35 on Tuesday. IAMGOLD has a 1 year low of C$7.19 and a 1 year high of C$22.06. The company has a debt-to-equity ratio of 28.93, a current ratio of 0.89 and a quick ratio of 1.19. The firm has a 50-day moving average of C$18.79 and a 200 day moving average of C$14.08. The stock has a market cap of C$12.28 billion, a P/E ratio of 37.46, a price-to-earnings-growth ratio of -0.28 and a beta of 0.98.

IAMGOLD (TSE:IMG) (NYSE:IAG) last announced its earnings results on Tuesday, November 4th. The mining company reported C$0.30 earnings per share for the quarter. IAMGOLD had a net margin of 49.57% and a return on equity of 27.91%. The business had revenue of C$984.02 million during the quarter. As a group, sell-side analysts expect that IAMGOLD will post 1.1121076 EPS for the current fiscal year.

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.