IAMGOLD (TSE:IMG) Sets New 12-Month High – Here’s What Happened

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$34.09 and last traded at C$33.16, with a volume of 2430301 shares traded. The stock had previously closed at C$33.56.

Analysts Set New Price Targets

Several research analysts have weighed in on IMG shares. TD Securities boosted their price target on IAMGOLD from C$34.00 to C$36.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Bank of America upped their target price on IAMGOLD from C$32.50 to C$38.00 in a research note on Thursday, February 26th. National Bank Financial increased their target price on IAMGOLD from C$28.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Finally, Stifel Nicolaus lifted their price target on IAMGOLD from C$28.00 to C$40.00 in a report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, IAMGOLD currently has a consensus rating of “Buy” and a consensus target price of C$31.25.

IAMGOLD Stock Up 1.7%

The stock has a fifty day moving average of C$27.08 and a two-hundred day moving average of C$20.94. The company has a quick ratio of 1.19, a current ratio of 1.75 and a debt-to-equity ratio of 20.08. The stock has a market cap of C$18.35 billion, a price-to-earnings ratio of 27.34, a PEG ratio of -0.28 and a beta of 1.60.

IAMGOLD (TSE:IMG) (NYSE:IAG) last announced its quarterly earnings results on Tuesday, February 17th. The mining company reported C$0.96 EPS for the quarter. The company had revenue of C$1.46 billion during the quarter. IAMGOLD had a return on equity of 18.40% and a net margin of 23.37%. As a group, analysts predict that IAMGOLD Co. will post 1.1121076 EPS 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.