IAMGOLD Corp Gets a Buy Rating from Canaccord Genuity

By Ryan Adsit

IAMGOLD Corp (TSX: IMG), the Materials sector company, was revisited by a Wall Street analyst yesterday. Analyst Tony Lesiak from Canaccord Genuity reiterated a Buy rating, with a C$9.50 price target.

According to TipRanks.com, Lesiak is a 4-star analyst with an average return of 7.7% and a 48.3% success rate. Lesiak 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 Strong Buy and the average price target is C$9.10, representing a 35.9% upside.

In a report issued on July 18, GMP FirstEnergy also reiterated a Buy rating on the stock with a C$9.30 price target.

IAMGOLD Corp’s market cap is currently C$990.5M and has a P/E ratio of 0.

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 Bombor√© and Bondi.

The company’s shares closed on Friday at C$6.70.