IAMGOLD (TSE:IMG) Hits New 52-Week High on Analyst Upgrade

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s share price reached a new 52-week high during mid-day trading on Monday after National Bankshares raised their price target on the stock from C$28.00 to C$34.00. National Bankshares currently has an outperform rating on the stock. IAMGOLD traded as high as C$30.13 and last traded at C$29.82, with a volume of 639444 shares. The stock had previously closed at C$28.69.

Several other analysts have also recently issued reports on the company. Stifel Nicolaus upgraded IAMGOLD from a “hold” rating to a “buy” rating and increased their price objective for the company from C$11.00 to C$28.00 in a research note on Monday, October 20th. Canaccord Genuity Group increased their price target on IAMGOLD from C$15.50 to C$19.50 in a research report on Thursday, October 2nd. Finally, TD Securities boosted their price objective on IAMGOLD from C$24.00 to C$34.00 in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$25.17.

IAMGOLD Price Performance

The stock’s 50-day moving average is C$23.00 and its 200 day moving average is C$17.50. 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 stock has a market capitalization of C$17.20 billion, a PE ratio of 50.89, a P/E/G ratio of -0.28 and a beta of 1.49.

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