3. IAMGOLD Corp.
Shares of IAMGOLD Corp. (IAG) of Toronto closed at $21.93 Tuesday, returning 23% year-to-date.
The company has interests in various mining operations and exploration projects in North America, South America and Africa.IAMGOLD earned $279.8 million, or 75 cents a share in 2010, increasing from $114.1 million, or 32 cents a share in 2009. Revenues for 2010 were up 28% year-over-year, to $1.2 billion. The consensus among analysts polled by Thomson Reuters is for the company to earn $1.37 a share in 2011 and $1.27 in 2012. In March, Bank of America Merrill Lynch analyst Michael Jalonen reiterated his buy rating on the company, with a $25 price target, saying that "the development of the Westwood mine and proposed expansions at Essakane, Rosebel, and Sadiola are forecast to have a positive impact on IAMGOLD's production profile." Sean Broderick said that IAMGOLD's shares were "hitting overhead resistance at around $23.50 but the trend is up," adding that with "increasing production and good projects" the shares could eventually go to $30. "It has had a good run, but could see sideways over the short-term," he said, adding that "long term, it's a good pick." Out of 13 sell-side analysts covering IAMGOLD, 10 rate the shares a buy, while three have neutral ratings.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV