IAMGOLD Corp (IMG) Rating Lowered to Hold at Canaccord Genuity
IAMGOLD Corp (TSE:IMG) (NYSE:IAG) was downgraded by Canaccord Genuity from a “buy” rating to a “hold” rating in a report issued on Friday. They currently have a C$9.50 price objective on the mining company’s stock, down from their previous price objective of C$10.00. Canaccord Genuity’s price objective indicates a potential upside of 24.51% from the stock’s previous close.
A number of other brokerages have also recently issued reports on IMG. National Bank Financial boosted their price objective on IAMGOLD Corp from C$8.50 to C$9.00 and gave the company an “outperform” rating in a research note on Wednesday, September 6th. BMO Capital Markets restated an “outperform” rating and issued a C$7.50 price objective on shares of IAMGOLD Corp in a research note on Wednesday, September 6th. Raymond James Financial, Inc. boosted their price objective on IAMGOLD Corp to C$9.00 and gave the company a “market perform” rating in a research note on Friday, September 8th. TD Securities lowered their price objective on IAMGOLD Corp from C$11.00 to C$9.00 and set a “buy” rating on the stock in a research note on Thursday, September 7th. Finally, CIBC boosted their price objective on IAMGOLD Corp from C$5.00 to C$5.75 in a research note on Wednesday, June 7th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of C$8.22.
Shares of IAMGOLD Corp (TSE IMG) opened at 7.63 on Friday. IAMGOLD Corp has a 52 week low of $4.18 and a 52 week high of $8.87. The firm has a market capitalization of $3.55 billion and a P/E ratio of 6.96. The firm’s 50-day moving average is $7.60 and its 200-day moving average is $6.35.
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In other news, insider Craig Stephen Macdougall sold 14,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of C$8.27, for a total transaction of C$115,780.00.
About IAMGOLD Corp
IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.
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