National Bankshares Raises Target Price for IAMGOLD Stock

Investors received good news about IAMGOLD (TSE:IMG) on Wednesday when National Bankshares increased their target price for the stock from C$12.00 to C$12.50. This adjustment comes in a research report provided to clients and investors, indicating a positive outlook for the company. The new target price suggests a potential increase of 64.47% from IAMGOLD's current stock price, making it an attractive option for investors.

In addition to National Bankshares, other analysts are also showing increasing interest in IAMGOLD. On October 9, National Bank Financial upgraded the stock from a "hold" rating to a "strong-buy" rating. However, Royal Bank of Canada took a different stance, downgrading IAMGOLD from a "moderate buy" to a "hold" rating back on September 10.

Moreover, Canaccord Genuity Group raised its rating for IAMGOLD to a "strong-buy" on October 22, and CIBC World Markets also made a similar move with an upgrade to a "strong-buy" rating on December 2. On the other hand, Stifel Nicolaus increased their price target from C$6.00 to C$9.00 on October 21. Overall, there have been mixed ratings, with two research analysts giving the stock a "hold" rating, two a "buy" rating, and three a "strong buy" rating. According to MarketBeat.com, IAMGOLD currently holds an average rating of "Buy" along with a consensus target price of C$7.39.

IAMGOLD Stock Performance

During mid-day trading on Wednesday, IAMGOLD's stock price remained steady at C$7.60, with a trading volume of 1,083,795 shares, which is below its average volume of 1,525,015 shares. Over the past year, IAMGOLD has seen a low of C$3.00 and a high of C$8.80. The company is also characterized by a debt-to-equity ratio of 35.17, a quick ratio of 1.19, and a current ratio of 1.34. Its fifty-day moving average stands at C$7.54 while the 200-day moving average is C$6.54. IAMGOLD has a market capitalization of C$4.33 billion and a PE ratio of 23.75.

Insider Transactions

Recent insider trading activity has also been observed. Senior Officer Stephen Eddy sold 16,100 shares of IAMGOLD stock on November 20 at an average price of C$7.80, totaling C$125,580. In contrast, Director Renaud Adams purchased 36,000 shares on November 12 at an average cost of C$6.95 per share, resulting in a total transaction of C$250,102.80. Currently, insiders hold around 0.10% of the company's stock.

About IAMGOLD

IAMGOLD Corporation is an intermediate gold producer and developer primarily operating in Canada and Burkina Faso. The company has several key projects including a 100% stake in the Westwood project in Quebec, a 60% stake in the Côté gold project in Ontario, and a 90% interest in the Essakane project in Burkina Faso.

IAMGOLD, Stock, Investment