IAMGOLD (IAG) Gets a Hold Rating from RBC Capital


In a report released yesterday, Josh Wolfson from RBC Capital maintained a Hold rating on IAMGOLD (IAG), with a price target of $5.25. The company’s shares closed last Tuesday at $3.51.

According to TipRanks.com, Wolfson is a 1-star analyst with an average return of -0.1% and a 54.7% success rate. Wolfson covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Osisko Gold Royalties, and Kirkland Lake Gold.

Currently, the analyst consensus on IAMGOLD is a Moderate Buy with an average price target of $5.98, representing a 65.2% upside. In a report issued on November 5, Canaccord Genuity also maintained a Hold rating on the stock with a C$6.50 price target.

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Based on IAMGOLD’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $335 million and GAAP net loss of $11.6 million. In comparison, last year the company earned revenue of $274 million and had a GAAP net loss of $3 million.

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IAMGOLD Corp. engages in the exploration, development and production of gold and mineral resource properties. The company was founded by William D. Pugliese, Mark I. Nathanson, and Larry E. Phillips on March 27, 1990 and is headquartered in Toronto, Canada.

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