RBC Capital Remains a Buy on IAMGOLD (IAG)

RBC Capital analyst Josh Wolfson maintained a Buy rating on IAMGOLD yesterday and set a price target of $30.00.

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Wolfson covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Royal Gold, and OR Royalties. According to TipRanks, Wolfson has an average return of 22.4% and a 66.46% success rate on recommended stocks.

In addition to RBC Capital, IAMGOLD also received a Buy from BMO Capital’s Matt Murphy in a report issued on May 6. However, on the same day, Scotiabank maintained a Hold rating on IAMGOLD (NYSE: IAG).

Based on IAMGOLD’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$1.03 billion and a net profit of C$379.7 million. In comparison, last year the company earned a revenue of C$477.1 million and had a net profit of C$39.7 million

Based on the recent corporate insider activity of 15 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.