IAMGOLD (IAG) Receives a Buy from National Bank

In a report released yesterday, National Bank from National Bank maintained a Buy rating on IAMGOLD (IAG), with a price target of C$8.25. The company’s shares closed last Monday at $4.49.

Currently, the analyst consensus on IAMGOLD is a Moderate Buy with an average price target of $5.72, which is a 31.5% upside from current levels. In a report issued on August 5, Merrill Lynch also maintained a Buy rating on the stock with a $6.25 price target.

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Based on IAMGOLD’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $285 million and net profit of $25.5 million. In comparison, last year the company earned revenue of $247 million and had a GAAP net loss of $14.4 million.

Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IAG in relation to earlier this year.

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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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