Credit Suisse analyst Fahad Tariq maintained a Buy rating on IAMGOLD Corp (IAG) yesterday and set a price target of $6. The company’s shares closed yesterday at $3.49.
According to TipRanks.com, Tariq is a 3-star analyst with an average return of 9.9% and a 85.7% success rate. Tariq covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Newmont Mining Corporation, and Kinross Gold.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for IAMGOLD Corp with a $5 average price target, which is a 43.3% upside from current levels. In a report issued on January 28, Desjardins also upgraded the stock to Buy.
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Based on IAMGOLD Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $9.5 million. In comparison, last year the company had a GAAP net loss of $17.7 million.
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IAMGOLD Corp. engages in the exploration, development, and production of gold and mineral resource properties. It operates through the Gold Mine and Non-Gold segments. The Gold Mine segment deals with gold properties in Burkina Faso, Suriname, Canada, and Mali.
