IAMGOLD (TSE:IMG) Sets New 52-Week High – Still a Buy?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$22.14 and last traded at C$22.13, with a volume of 788825 shares. The stock had previously closed at C$21.35.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on IMG shares. Royal Bank Of Canada raised IAMGOLD from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, September 10th. Bank of America raised their target price on shares of IAMGOLD from C$13.00 to C$15.50 in a research report on Friday, August 29th. Canaccord Genuity Group boosted their target price on shares of IAMGOLD from C$15.50 to C$19.50 in a report on Thursday, October 2nd. Stifel Canada raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Finally, Stifel Nicolaus raised shares of IAMGOLD from a “hold” rating to a “buy” rating and increased their price target for the stock from C$11.00 to C$28.00 in a research note on Monday, October 20th. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, IAMGOLD has a consensus rating of “Buy” and a consensus target price of C$22.20.

IAMGOLD Stock Up 2.8%

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 firm has a fifty day simple moving average of C$18.79 and a 200-day simple moving average of C$14.08. The company has a market capitalization of C$12.63 billion, a PE ratio of 38.51, a P/E/G ratio of -0.28 and a beta of 0.98.

IAMGOLD (TSE:IMG) (NYSE:IAG) last issued its quarterly earnings results on Tuesday, November 4th. The mining company reported C$0.30 EPS for the quarter. The business had revenue of C$984.02 million for the quarter. IAMGOLD had a net margin of 49.57% and a return on equity of 27.91%. Equities research analysts anticipate 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.