IAMGOLD (TSE:IMG) Sets New 1-Year High – Still a Buy?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$31.68 and last traded at C$31.43, with a volume of 2833271 shares. The stock had previously closed at C$31.18.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on IMG shares. National Bank Financial upped their price target on shares of IAMGOLD from C$28.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. TD Securities lifted their price target on IAMGOLD from C$34.00 to C$36.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Bank of America upped their price objective on IAMGOLD from C$32.50 to C$38.00 in a research note on Thursday. Finally, Stifel Nicolaus raised their price objective on IAMGOLD from C$28.00 to C$40.00 in a research report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$31.25.

IAMGOLD Trading Up 3.8%

The company has a 50 day moving average of C$26.41 and a two-hundred day moving average of C$20.28. The stock has a market capitalization of C$19.36 billion, a PE ratio of 57.26, a P/E/G ratio of -0.28 and a beta of 1.60. 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 issued its quarterly earnings results on Tuesday, February 17th. The mining company reported C$0.96 earnings per share for the quarter. The business had revenue of C$1.46 billion for the quarter. IAMGOLD had a return on equity of 27.91% and a net margin of 49.57%. Sell-side analysts predict that IAMGOLD Co. will post 1.1121076 EPS for the current 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.