IAMGOLD (TSE:IMG) Reaches New 52-Week High After Analyst Upgrade

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s stock price hit a new 52-week high during trading on Wednesday after Stifel Nicolaus raised their price target on the stock from C$28.00 to C$40.00. The company traded as high as C$30.26 and last traded at C$30.10, with a volume of 1189030 shares changing hands. The stock had previously closed at C$29.30.

Other analysts have also recently issued reports about the company. National Bank Financial raised their price target on IAMGOLD from C$28.00 to C$34.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. TD Securities raised their target price on IAMGOLD from C$24.00 to C$34.00 in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$27.17.

IAMGOLD Price Performance

The firm has a market capitalization of C$16.27 billion, a PE ratio of 48.12, a P/E/G ratio of -0.28 and a beta of 1.60. The company has a current ratio of 0.89, a quick ratio of 1.19 and a debt-to-equity ratio of 28.93. The company has a fifty day moving average price of C$24.64 and a two-hundred day moving average price of C$18.85.

IAMGOLD (TSE:IMG) (NYSE:IAG) last released its quarterly earnings results on Tuesday, November 4th. The mining company reported C$0.30 earnings per share (EPS) for the quarter. IAMGOLD had a return on equity of 27.91% and a net margin of 49.57%.The firm had revenue of C$984.02 million for the quarter. Sell-side analysts forecast 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.