IAMGOLD (TSE:IMG) Sets New 1-Year High – Still a Buy?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) shares hit a new 52-week high on Wednesday . The company traded as high as C$8.82 and last traded at C$8.75, with a volume of 413861 shares trading hands. The stock had previously closed at C$8.62.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. National Bank Financial upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. National Bankshares decreased their target price on IAMGOLD from C$12.50 to C$12.00 and set an “outperform” rating on the stock in a research note on Thursday, January 9th. Finally, Stifel Nicolaus boosted their price target on shares of IAMGOLD from C$6.00 to C$9.00 in a research note on Monday, October 21st. One equities research analyst has rated the stock with a hold rating, one has issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, IAMGOLD has a consensus rating of “Buy” and an average price target of C$8.30.

IAMGOLD Price Performance

The company has a debt-to-equity ratio of 35.17, a current ratio of 1.34 and a quick ratio of 1.19. The firm has a market cap of C$5.18 billion, a price-to-earnings ratio of 28.41, a PEG ratio of -0.28 and a beta of 1.47. The stock has a 50-day moving average price of C$7.83 and a 200 day moving average price of C$7.12.

IAMGOLD (TSE:IMG) (NYSE:IAG) last released its quarterly earnings results on Thursday, November 7th. The mining company reported C$0.24 EPS for the quarter, topping the consensus estimate of C$0.15 by C$0.09. IAMGOLD had a return on equity of 5.86% and a net margin of 10.36%. During the same quarter last year, the business earned ($0.01) EPS. As a group, equities research analysts forecast that IAMGOLD Co. will post 1.1121076 earnings per share for the current fiscal year.

Insider Activity at IAMGOLD

In related news, Director Renaud Adams bought 36,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were bought at an average cost of C$6.95 per share, for a total transaction of C$250,102.80. Also, Senior Officer Timothy Bradburn sold 16,800 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of C$8.10, for a total value of C$136,080.00. 0.10% of the stock is owned by insiders.

IAMGOLD Company Profile

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.