IAMGOLD's Price Target Raised by National Bankshares

On February 12, 2025, National Bankshares announced an increase in the price target for IAMGOLD (TSE:IMG) from C$12.00 to C$13.50. This adjustment was detailed in a research note shared in the morning, and it underscores the firm’s positive outlook on the mining company’s stock. Currently, National Bankshares has rated IAMGOLD as an outperform investment.

In recent weeks, other analysts have also commented favorably on IAMGOLD's performance. For instance, Raymond James upgraded the company from a "strong sell" to a "hold" rating in a report dated February 3. Subsequently, on December 2, Cibc World Mkts boosted its rating from "hold" to "strong-buy." Stifel Nicolaus also increased their price target from C$6.00 to C$9.00 in a report filed on October 21. Additionally, Canaccord Genuity Group upgraded IAMGOLD from "hold" to "strong-buy" on October 22. At present, analysis from MarketBeat indicates that two research analysts have given the stock a hold rating, one has issued a buy rating, and three have rated it as strong buy. The overall average rating for IAMGOLD stocks is categorized as a "Buy," with a consensus price target of C$8.68.

Current Market Performance

As of Tuesday, shares of IAMGOLD opened at C$9.12. Measuring its performance over time, the stock has a 50-day moving average price of C$8.07 and a 200-day moving average price of C$7.33. The one-year range for the stock has seen a low of C$3.15 and a high reaching C$9.68. Financially, IAMGOLD holds a debt-to-equity ratio of 35.17, a current ratio of 1.34, and a quick ratio of 1.19. The market capitalization for the company stands at C$5.20 billion, with a price-to-earnings (P/E) ratio of 28.50 and a price-to-earnings-growth (PEG) ratio of -0.28. The stock's beta is noted at 1.47, indicating a level of risk compared to the overall market.

Insider Trading Activity

Recent insider trading has also been observed at IAMGOLD. Senior Officer Stephen Eddy sold 16,100 shares on November 20 at an average price of C$7.80, equating to a total of C$125,580. Another insider, Timothy Bradburn, sold 16,800 shares on December 9 at an average price of C$8.10, amounting to C$136,080. Currently, insiders own approximately 0.10% of IAMGOLD's stock.

Company Overview

IAMGOLD Corporation, through its various subsidiaries, functions as an intermediate gold producer with operations chiefly in Canada and Burkina Faso. The company possesses full ownership of the Westwood project in Quebec, covering an area of 1,925 hectares, while maintaining a 60% interest in the Côté gold project located in Ontario, Canada, which spans 596 square kilometers. Furthermore, IAMGOLD has a 90% stake in the Essakane project, which is situated over 274,000 square kilometers in Burkina Faso.

Conclusion

With recent upgrades in ratings and price targets, IAMGOLD appears to be on a positive trajectory in the mining sector. Investors and analysts alike are keenly watching the developments surrounding this company.

IAMGOLD, Stock, Investment