In a report released on February 5, Wayne Lam from RBC Capital maintained a Hold rating on IAMGOLD (IAG – Research Report), with a price target of $3.00. The company’s shares closed yesterday at $2.47.
Lam covers the Basic Materials sector, focusing on stocks such as Torex Gold Resources, IAMGOLD, and Lundin Gold. According to TipRanks, Lam has an average return of -10.3% and a 38.41% success rate on recommended stocks.
In addition to RBC Capital, IAMGOLD also received a Hold from Scotiabank’s Tanya Jakusconek in a report issued on January 23. However, on the same day, Bank of America Securities reiterated a Buy rating on IAMGOLD (NYSE: IAG).
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Based on IAMGOLD’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $224.5 million and a GAAP net loss of $800 thousand. In comparison, last year the company earned a revenue of $254.5 million and had a GAAP net loss of $90.3 million
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IAMGOLD (IAG) Company Description:
IAMGOLD Corp. engages in the exploration, development and production of gold and mineral resource properties. The company was founded by William D. Pugliese, Mark I. Nathanson, and Larry E. Phillips on March 27, 1990 and is headquartered in Toronto, Canada.
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