IAMGOLD Corp (IMG), the Materials sector company was revisited yesterday, and remains undervalued for at least one analyst on the street. The company received a Buy rating from GMP FirstEnergy’s analyst Steven Butler, with a C$6.70 price target.
According to TipRanks.com, Butler ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -5.3% and a 39.0% success rate. Butler covers the Basic Materials sector, focusing on stocks such as Barrick Gold Corporation, Kirkland Lake Gold Ltd, and Eldorado Gold Corp.
IAMGOLD Corp has an analyst consensus of Moderate Buy, with a price target consensus of C$6.89, which is a 45.4% upside from current levels. In a report issued on February 7, Credit Suisse also maintained a Buy rating on the stock.
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Based on IAMGOLD Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of C$45.96 million. In comparison, last year the company had a GAAP net loss of C$22.5 million.
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.
The company’s shares closed on Friday at C$4.74.
