IAMGOLD (TSE:IMG) Sets New 52-Week High – Should You Buy?

Shares of IAMGOLD Co. (TSE:IMG) (NYSE:IAG) reached a new 52-week high during trading on Monday . The stock traded as high as C$25.05 and last traded at C$24.85, with a volume of 334319 shares trading hands. The stock had previously closed at C$23.94.

Analyst Ratings Changes

Several research analysts have issued reports on IMG shares. Canaccord Genuity Group upped their price target on IAMGOLD from C$15.50 to C$19.50 in a report on Thursday, October 2nd. National Bankshares lifted their target price on IAMGOLD from C$23.00 to C$28.00 and gave the stock an “outperform” rating in a report on Tuesday, December 9th. Stifel Canada raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Stifel Nicolaus raised shares of IAMGOLD from a “hold” rating to a “buy” rating and upped their price objective for the company from C$11.00 to C$28.00 in a research note on Monday, October 20th. Finally, Cormark raised their target price on shares of IAMGOLD from C$16.50 to C$20.00 in a report on Tuesday, September 16th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$22.20.

IAMGOLD Price Performance

The stock has a market capitalization of C$14.35 billion, a price-to-earnings ratio of 42.46, a price-to-earnings-growth ratio of -0.28 and a beta of 1.49. The company has a current ratio of 0.89, a quick ratio of 1.19 and a debt-to-equity ratio of 28.93. The stock has a 50-day simple moving average of C$21.38 and a 200 day simple moving average of C$16.31.

IAMGOLD (TSE:IMG) (NYSE:IAG) last issued its earnings results on Tuesday, November 4th. The mining company reported C$0.30 earnings per share for the quarter. The company had revenue of C$984.02 million for the quarter. IAMGOLD had a return on equity of 27.91% and a net margin of 49.57%. On average, equities research analysts forecast that IAMGOLD Co. will post 1.1121076 EPS for the current fiscal year.

IAMGOLD Company Profile

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. A solid base of strategic assets is complemented by the Cote Gold construction project in Canada, the Boto Gold development project in Senegal, as well as greenfield and brownfield exploration projects in various countries located in the Americas and West Africa.