IAMGOLD (TSE:IMG) Hits New 52-Week High – What’s Next?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) hit a new 52-week high during trading on Thursday . The company traded as high as C$22.57 and last traded at C$22.26, with a volume of 603571 shares changing hands. The stock had previously closed at C$22.12.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on IMG shares. Stifel Canada upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Cormark upped their price target on IAMGOLD from C$16.50 to C$20.00 in a research note on Tuesday, September 16th. Royal Bank Of Canada upgraded IAMGOLD from a “hold” rating to a “moderate buy” rating in a report on Wednesday, September 10th. Stifel Nicolaus upgraded IAMGOLD from a “hold” rating to a “buy” rating and increased their price objective for the company from C$11.00 to C$28.00 in a report on Monday, October 20th. Finally, Canaccord Genuity Group upped their price target on IAMGOLD from C$15.50 to C$19.50 in a report on Thursday, October 2nd. Three analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$22.20.

IAMGOLD Stock Performance

The stock has a market cap of C$12.75 billion, a PE ratio of 38.88, a P/E/G ratio of -0.28 and a beta of 0.98. The firm’s 50-day moving average is C$19.12 and its 200 day moving average is C$14.51. 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 quarterly earnings data 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. As a group, research analysts anticipate that IAMGOLD Co. will post 1.1121076 EPS for the current 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.