Roth Capital Reiterates Buy On IAMGOLD, Raises PT To $5.25

On August 13, 2014, IAMGOLD Corp (IAG) reported its second quarter results demonstrating a significant improvement in operating cash flow. In reaction to the results, Roth Capital analyst Joe Reagor today reiterated a Buy rating on IAG stock and raised his price target to $5.25 (from $4.25).

Reagor commented: “On August 13, 2014, IAG reported its financial and operating results for Q2 2014. Revenue of $288.6 million beat our estimate of $276.5 million, while adjusted EPS of $0.02 per share was essentially in line with our $0.03 estimate. The revenue beat was mainly due to production of 197,000 ounces of gold compared to our estimate of 184,000 ounces. We view Q2 as a strong operational quarter for IAG, with the only minor blemish coming at Rosebel, where lower than anticipated grades resulted in higher than anticipated cash costs.”

The analyst added, “We anticipate a strong second half from IAG at the operational level with higher grades at Rosebel, significant production from Westwood, and continued strong performance from Niobec combining to drive improved operating margins.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Reagor has a total average return of 6.3% and a 57.9% success rate. Reagor has a 3.1% average return when recommending IAG, and is ranked #1219 out of 3242 analysts.


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