IAMGOLD (TSE:IMG) Sets New 1-Year High – Here’s What Happened

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as C$25.99 and last traded at C$25.83, with a volume of 893675 shares traded. The stock had previously closed at C$23.95.

Analysts Set New Price Targets

A number of research firms have issued reports on IMG. Stifel Canada upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Canaccord Genuity Group upped their price target on IAMGOLD from C$15.50 to C$19.50 in a research report on Thursday, October 2nd. National Bankshares boosted their price objective on shares of IAMGOLD from C$23.00 to C$28.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Finally, Stifel Nicolaus upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and increased their target price for the stock from C$11.00 to C$28.00 in a report on Monday, October 20th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$22.20.

IAMGOLD Price Performance

The stock has a market cap of C$15.41 billion, a price-to-earnings ratio of 45.58, a price-to-earnings-growth ratio of -0.28 and a beta of 1.49. The company has a debt-to-equity ratio of 28.93, a quick ratio of 1.19 and a current ratio of 0.89. The company has a 50-day simple moving average of C$21.81 and a two-hundred day simple moving average of C$16.61.

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