IAMGOLD (NYSE:IAG) Hits New 1-Year High at $3.84

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $3.84 and last traded at $3.83, with a volume of 2044767 shares changing hands. The stock had previously closed at $3.62.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IAG. StockNews.com upgraded shares of IAMGOLD from a “sell” rating to a “hold” rating in a research report on Wednesday. National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. BMO Capital Markets upped their target price on shares of IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a research report on Friday, April 5th. Finally, CIBC upped their target price on shares of IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $3.52.

IAMGOLD Price Performance

The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $1.79 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.63 and a beta of 1.70. The stock’s 50-day moving average is $2.96 and its two-hundred day moving average is $2.59.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Thursday, February 15th. The mining company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. The company had revenue of $297.60 million for the quarter. On average, equities analysts predict that IAMGOLD Co. will post 0.06 EPS for the current year.

Hedge Funds Weigh In On IAMGOLD

Institutional investors have recently modified their holdings of the stock. Citigroup Inc. purchased a new position in shares of IAMGOLD during the first quarter worth approximately $31,000. Vident Advisory LLC purchased a new position in shares of IAMGOLD during the fourth quarter worth approximately $25,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of IAMGOLD during the fourth quarter worth approximately $26,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of IAMGOLD during the fourth quarter worth approximately $29,000. Finally, First Trust Advisors LP purchased a new position in shares of IAMGOLD during the first quarter worth approximately $40,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

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.