In a report released on February 20, 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 $2.58.
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 -9.7% and a 41.18% success rate on recommended stocks.
Currently, the analyst consensus on IAMGOLD is a Moderate Buy with an average price target of $2.90, a 12.40% upside from current levels. In a report released on February 21, National Bank also maintained a Hold rating on the stock with a C$4.00 price target.
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Based on IAMGOLD’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $297.6 million and a GAAP net loss of $9.4 million. In comparison, last year the company earned a revenue of $207.2 million and had a GAAP net loss of $49.5 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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