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

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s stock price reached 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 trading hands. The stock had previously closed at C$29.30.

A number of other equities research analysts have also recently weighed in on the company. TD Securities raised their price target on IAMGOLD from C$24.00 to C$34.00 in a report on Thursday, January 22nd. National Bankshares increased 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. Two 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$27.17.

IAMGOLD Stock Performance

The stock has a market cap of C$17.87 billion, a P/E ratio of 52.86, a PEG ratio of -0.28 and a beta of 1.60. The stock has a fifty day simple moving average of C$24.32 and a 200-day simple moving average of C$18.71. The company has a quick ratio of 1.19, a current ratio of 0.89 and a debt-to-equity ratio of 28.93.

IAMGOLD (TSE:IMG) (NYSE:IAG) last announced its quarterly earnings results on Tuesday, November 4th. The mining company reported C$0.30 earnings per share for the quarter. The business had revenue of C$984.02 million for the quarter. IAMGOLD had a net margin of 49.57% and a return on equity of 27.91%. Equities analysts expect that IAMGOLD Co. will post 1.1121076 earnings per share for the current fiscal year.

IAMGOLD Company Profile

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.