IAMGOLD (TSE:IMG) Reaches New 12-Month High on Analyst Upgrade

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s share price reached a new 52-week high during mid-day trading on Thursday after TD Securities raised their price target on the stock from C$34.00 to C$36.00. TD Securities currently has a buy rating on the stock. IAMGOLD traded as high as C$30.80 and last traded at C$30.67, with a volume of 2618305 shares. The stock had previously closed at C$29.17.

A number of other equities research analysts also recently commented on IMG. Stifel Nicolaus upped their price objective on IAMGOLD from C$28.00 to C$40.00 in a report on Tuesday, February 10th. National Bank Financial boosted their price objective on shares of IAMGOLD from C$28.00 to C$34.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$27.50.

IAMGOLD Trading Up 5.1%

The business’s 50-day moving average is C$25.47 and its 200 day moving average is C$19.55. The firm has a market capitalization of C$18.19 billion, a P/E ratio of 53.81, a price-to-earnings-growth 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 released its quarterly earnings results on Tuesday, February 17th. The mining company reported C$0.96 earnings per share for the quarter. IAMGOLD had a net margin of 49.57% and a return on equity of 27.91%. The company had revenue of C$1.46 billion during the quarter. As a group, analysts anticipate that IAMGOLD Co. will post 1.1121076 EPS for the current fiscal year.

IAMGOLD Company Profile

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.