Canaccord Genuity Reaffirms Their Hold Rating on IAMGOLD (IAG)

In a report issued on January 14, Carey MacRury from Canaccord Genuity maintained a Hold rating on IAMGOLD (IAGResearch Report), with a price target of C$5.25. The company’s shares closed last Wednesday at $3.37.

According to TipRanks.com, MacRury is a 5-star analyst with an average return of 16.8% and a 63.1% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Golden Star Resources, and Osisko Gold Royalties.

Currently, the analyst consensus on IAMGOLD is a Moderate Buy with an average price target of $4.34, implying a 33.5% upside from current levels. In a report issued on January 4, RBC Capital also maintained a Hold rating on the stock with a $4.75 price target.

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The company has a one-year high of $5.35 and a one-year low of $1.85. Currently, IAMGOLD has an average volume of 5.13M.

Based on the recent corporate insider activity of 16 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.