IAMGOLD (TSE:IMG) Hits New 1-Year High – Should You Buy?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s stock price hit a new 52-week high on Thursday . The stock traded as high as C$22.57 and last traded at C$22.26, with a volume of 603571 shares trading hands. The stock had previously closed at C$22.12.

Analyst Upgrades and Downgrades

IMG has been the topic of a number of analyst reports. Bank of America lifted their price objective on IAMGOLD from C$13.00 to C$15.50 in a report on Friday, August 29th. Stifel Nicolaus raised shares of IAMGOLD from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$11.00 to C$28.00 in a report on Monday, October 20th. Cormark increased their target price on shares of IAMGOLD from C$16.50 to C$20.00 in a report on Tuesday, September 16th. Stifel Canada raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Finally, Royal Bank Of Canada raised IAMGOLD from a “hold” rating to a “moderate buy” rating in a report on Wednesday, September 10th. Three research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, IAMGOLD presently has an average rating of “Buy” and a consensus price target of C$22.20.

IAMGOLD Stock Performance

The company has a market capitalization of C$12.75 billion, a PE ratio of 38.88, a price-to-earnings-growth ratio of -0.28 and a beta of 0.98. The stock’s fifty day simple moving average is C$19.12 and its 200-day simple moving average is C$14.51. The company has a debt-to-equity ratio of 28.93, a quick ratio of 1.19 and a current ratio of 0.89.

IAMGOLD (TSE:IMG) (NYSE:IAG) last posted its quarterly earnings data on Tuesday, November 4th. The mining company reported C$0.30 earnings per share for the quarter. IAMGOLD had a net margin of 49.57% and a return on equity of 27.91%. The business had revenue of C$984.02 million during the quarter. As a group, equities analysts predict that IAMGOLD Co. will post 1.1121076 earnings per share for the current year.

About IAMGOLD

Iamgold Corp is a mid-tier gold mining company operating in three regions globally North America, South America and West Africa. Within these regions, the company is developing potential mining districts that encompass operating mines and construction, development and exploration projects. The company’s operating mines include Essakane in Burkina Faso, Rosebel in Suriname and Westwood in Canada.