IAMGOLD Corp Received its Third Buy in a Row

By Carrie Williams

Analysts seem to be feeling optimistic about IAMGOLD Corp (TSX: IMG) lately as after Canaccord Genuity and TD Securities rated the stock a Buy this past month, there is another positive note, this time from GMP FirstEnergy. Yesterday, analyst Steven Butler gave a Buy rating to IMG and set a C$9.30 price target.

According to TipRanks.com, Butler is a 2-star analyst with an average return of 0.7% and a 48.5% success rate. Butler covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Hecla Mining Company, and Eldorado Gold Corp.

IAMGOLD Corp has an analyst consensus of Strong Buy, with a price target consensus of C$8.43.

Based on IAMGOLD Corp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$0 and GAAP net loss of C$2.64 million. In comparison, last year the company earned revenue of C$0 and had a GAAP net loss of C$1.71 million.

Orezone Gold Corp. engages in the acquisition, exploration and development of gold properties. The company’s projects are Bombore, Sega and Bondi. It explores gold properties in Burkina Faso and uranium properties in Niger. The company’s projects include Bomboré and Bondi. Orezone Gold was founded by Ronald Neville Little on December 1, 2008 and is headquartered in Ottawa, Canada.

The company’s shares closed last Tuesday at $6.78.