IAMGOLD (TSE:IMG) Hits New 1-Year High Following Analyst Upgrade

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s share price reached a new 52-week high on Monday after National Bankshares raised their price target on the stock from C$28.00 to C$34.00. National Bankshares currently has an outperform rating on the stock. IAMGOLD traded as high as C$30.13 and last traded at C$29.82, with a volume of 639444 shares traded. The stock had previously closed at C$28.69.

IMG has been the topic of a number of other reports. Stifel Nicolaus upgraded IAMGOLD from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$11.00 to C$28.00 in a research note on Monday, October 20th. TD Securities raised their target price on IAMGOLD from C$24.00 to C$34.00 in a report on Thursday, January 22nd. 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. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$25.17.

IAMGOLD Price Performance

The company has a market cap of C$17.07 billion, a P/E ratio of 50.49, a P/E/G ratio of -0.28 and a beta of 1.49. The stock has a 50-day simple moving average of C$22.80 and a 200 day simple moving average of C$17.36. 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 issued its earnings results on Tuesday, November 4th. The mining company reported C$0.30 EPS for the quarter. The business had revenue of C$984.02 million during the quarter. IAMGOLD had a return on equity of 27.91% and a net margin of 49.57%. On average, equities analysts expect that IAMGOLD Co. will post 1.1121076 EPS for the current year.

About IAMGOLD

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.