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CIBC Keeps Their Buy Rating on IAMGOLD (IAG)

Tipranks - Sat Jun 13, 4:28AM CDT

In a report released yesterday, Anita Soni from CIBC maintained a Buy rating on IAMGOLD, with a price target of $34.00. The company’s shares closed yesterday at C$22.53.

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Soni covers the Basic Materials sector, focusing on stocks such as Agnico Eagle, Lundin Mining, and Newmont Mining. According to TipRanks, Soni has an average return of 21.0% and a 56.18% success rate on recommended stocks.

Currently, the analyst consensus on IAMGOLD is a Strong Buy with an average price target of $26.50, representing a 17.62% upside. In a report released on June 3, RBC Capital also maintained a Buy rating on the stock with a $22.00 price target.

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

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