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

IAMGOLD (TSE:IMG) (NYSE:IAG) had its target price increased by investment analysts at National Bankshares from C$12.00 to C$13.50 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the mining company’s stock. National Bankshares’ price target would suggest a potential upside of 46.26% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Raymond James raised shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, February 3rd. Stifel Nicolaus increased their target price on shares of IAMGOLD from C$6.00 to C$9.00 in a research report on Monday, October 21st. Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$8.68.

IAMGOLD Stock Performance

Shares of TSE IMG remained flat at C$9.23 during midday trading on Tuesday. 1,416,526 shares of the stock were exchanged, compared to its average volume of 1,768,399. IAMGOLD has a 52 week low of C$3.15 and a 52 week high of C$9.68. The firm has a market cap of C$5.26 billion, a P/E ratio of 28.84, a P/E/G ratio of -0.28 and a beta of 1.47. The company has a current ratio of 1.34, a quick ratio of 1.19 and a debt-to-equity ratio of 35.17. The stock’s fifty day moving average price is C$8.07 and its 200 day moving average price is C$7.33.

Insider Activity

In other news, Senior Officer Stephen Eddy sold 16,100 shares of IAMGOLD stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of C$7.80, for a total transaction of C$125,580.00. Also, Senior Officer Timothy Bradburn sold 16,800 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of C$8.10, for a total transaction of C$136,080.00. 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.