IAMGOLD (TSE:IMG) Reaches New 52-Week High – Time to Buy?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) hit a new 52-week high during trading on Tuesday . The stock traded as high as C$9.68 and last traded at C$9.36, with a volume of 2591916 shares. The stock had previously closed at C$9.04.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on IMG shares. Stifel Nicolaus upped their price target on IAMGOLD from C$6.00 to C$9.00 in a research report on Monday, October 21st. Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Raymond James raised shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a report on Monday. National Bankshares decreased their price target on shares of IAMGOLD from C$12.50 to C$12.00 and set an “outperform” rating on the stock in a report on Thursday, January 9th. Finally, Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, IAMGOLD currently has a consensus rating of “Buy” and a consensus price target of C$8.30.

IAMGOLD Trading Up 1.6 %

The stock has a 50 day moving average of C$7.94 and a 200 day moving average of C$7.22. 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$5.29 billion, a P/E ratio of 28.97, a PEG ratio of -0.28 and a beta of 1.47.

IAMGOLD (TSE:IMG) (NYSE:IAG) last announced its quarterly earnings data on Thursday, November 7th. The mining company reported C$0.24 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the previous year, the business posted ($0.01) EPS. As a group, equities research analysts predict that IAMGOLD Co. will post 1.1121076 EPS for the current year.

Insiders Place Their Bets

In other news, Director Renaud Adams purchased 36,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was 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 firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of C$8.10, for a total transaction of C$136,080.00. Insiders own 0.10% of the company’s stock.

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.