IAMGOLD (TSE:IMG) Stock Price Up 16.6% – Time to Buy?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) rose 16.6% on Wednesday . The company traded as high as C$25.87 and last traded at C$25.84. Approximately 756,490 shares changed hands during trading, a decline of 66% from the average daily volume of 2,215,315 shares. The stock had previously closed at C$22.16.

Analysts Set New Price Targets

IMG has been the subject of a number of research analyst reports. TD Securities lifted their target price on IAMGOLD from C$34.00 to C$36.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. BMO Capital Markets lifted their price target on IAMGOLD from C$27.00 to C$32.00 in a report on Wednesday, April 22nd. Stifel Nicolaus lifted their price target on IAMGOLD from C$28.00 to C$40.00 in a report on Tuesday, February 10th. Bank of America lifted their price target on IAMGOLD from C$32.50 to C$38.00 in a report on Thursday, February 26th. Finally, National Bank Financial lifted their price target on IAMGOLD from C$36.00 to C$39.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$32.07.

IAMGOLD Price Performance

The stock has a fifty day moving average price of C$26.48 and a 200-day moving average price of C$24.14. The firm has a market capitalization of C$14.90 billion, a PE ratio of 22.45, a P/E/G ratio of -0.28 and a beta of 2.11. The company has a debt-to-equity ratio of 15.02, a quick ratio of 1.19 and a current ratio of 1.89.

IAMGOLD (TSE:IMG) (NYSE:IAG) last announced its quarterly earnings results on Tuesday, May 5th. The mining company reported C$0.93 earnings per share (EPS) for the quarter. IAMGOLD had a return on equity of 26.05% and a net margin of 29.53%.The business had revenue of C$1.43 billion for the quarter. Sell-side 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.