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

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s share price hit a new 52-week high on Thursday after TD Securities raised their price target on the stock from C$34.00 to C$36.00. TD Securities currently has a buy rating on the stock. IAMGOLD traded as high as C$30.80 and last traded at C$30.67, with a volume of 2618305 shares trading hands. The stock had previously closed at C$29.17.

IMG has been the subject of a number of other research reports. National Bank Financial boosted their price objective on IAMGOLD from C$28.00 to C$34.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Stifel Nicolaus raised their target price on IAMGOLD from C$28.00 to C$40.00 in a research note on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, IAMGOLD presently has an average rating of “Buy” and an average target price of C$27.50.

IAMGOLD Stock Down 0.8%

The stock has a market cap of C$18.04 billion, a P/E ratio of 53.37, a price-to-earnings-growth 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 stock’s 50-day moving average is C$25.64 and its 200-day moving average is C$19.69.

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 company had revenue of C$1.46 billion during the quarter. IAMGOLD had a net margin of 49.57% and a return on equity of 27.91%. As a group, research analysts anticipate that IAMGOLD Co. will post 1.1121076 earnings per share for the current fiscal 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.