IAMGOLD (TSE:IMG) Hits New 1-Year High – Here’s Why

Shares of IAMGOLD Co. (TSE:IMG) (NYSE:IAG) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$25.99 and last traded at C$25.83, with a volume of 893675 shares traded. The stock had previously closed at C$23.95.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Canaccord Genuity Group boosted their price objective on IAMGOLD from C$15.50 to C$19.50 in a research report on Thursday, October 2nd. Stifel Canada raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. National Bankshares upped their price objective on shares of IAMGOLD from C$23.00 to C$28.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Finally, Stifel Nicolaus raised shares of IAMGOLD from a “hold” rating to a “buy” rating and raised their target price for the stock from C$11.00 to C$28.00 in a research note on Monday, October 20th. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$22.20.

IAMGOLD Trading Up 4.3%

The stock has a market cap of C$16.26 billion, a PE ratio of 48.11, a price-to-earnings-growth ratio of -0.28 and a beta of 1.49. The company’s 50-day moving average price is C$22.12 and its 200 day moving average price is C$16.85. The company has a debt-to-equity ratio of 28.93, a quick ratio of 1.19 and a current ratio of 0.89.

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