IAMGOLD (TSE:IMG) Sets New 12-Month High Following Analyst Upgrade

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s share price reached a new 52-week high on Wednesday after Stifel Nicolaus raised their price target on the stock from C$28.00 to C$40.00. The company traded as high as C$30.26 and last traded at C$30.10, with a volume of 1189030 shares. The stock had previously closed at C$29.30.

A number of other equities research analysts also recently issued reports on IMG. National Bank Financial upped their price objective on IAMGOLD from C$28.00 to C$34.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. TD Securities increased their price target on IAMGOLD from C$24.00 to C$34.00 in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$27.17.

IAMGOLD Stock Up 4.1%

The business has a 50 day simple moving average of C$24.52 and a 200 day simple moving average of C$18.79. The company has a market capitalization of C$18.09 billion, a price-to-earnings ratio of 53.51, a PEG ratio of -0.28 and a beta of 1.60. The company has a debt-to-equity ratio of 28.93, a current ratio of 0.89 and a quick ratio of 1.19.

IAMGOLD (TSE:IMG) (NYSE:IAG) last posted its quarterly earnings data on Tuesday, November 4th. The mining company reported C$0.30 earnings per share (EPS) for the quarter. IAMGOLD had a return on equity of 27.91% and a net margin of 49.57%.The firm had revenue of C$984.02 million for the quarter. As a group, equities analysts predict that IAMGOLD Co. will post 1.1121076 earnings per share for the current fiscal 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.