GMP FirstEnergy Keeps Their Buy Rating on IAMGOLD Corp

By Jason Carr

Wall Street analyst has provided a review for the Materials company on September 12, but retained the same rating on the stock. GMP FirstEnergy’s analyst Steven Butler reiterates their Buy rating on the shares of IAMGOLD Corp (TSX: IMG), with a C$10.40 price target.

According to TipRanks.com, Butler is ranked 0 out of 5 stars with an average return of -7.3% and a 29.0% success rate. Butler covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Hecla Mining Company, and Eldorado Gold Corp.

Currently, the analyst consensus on IAMGOLD Corp is Moderate Buy and the average price target is C$10.20, representing a 25.9% upside.

In a report issued on September 6, Canaccord Genuity also reiterated a Buy rating on the stock with a C$10 price target.

IAMGOLD Corp’s market cap is currently C$3.78B and has a P/E ratio of 5.8.

IAMGOLD Corp. is engaged in the exploration, production and development of gold and mineral resource properties throughout the world. The company is focused on exploring for copper, gold, silver, niobium, diamonds, and zinc deposits in West Africa, South America and in the Canadian provinces of Ontario and Québec, where it also operates a niobium mine.

The company’s shares closed on Thursday at C$8.10, close to its 52-week high of C$8.87.