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

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) shares reached a new 52-week high during mid-day trading on Monday after Canaccord Genuity Group upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as C$8.45 and last traded at C$8.43, with a volume of 891600 shares changing hands. The stock had previously closed at C$8.23.

IMG has been the subject of several other reports. National Bank Financial upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada cut shares of IAMGOLD from a “moderate buy” rating to a “hold” rating in a report on Tuesday, September 10th. Stifel Nicolaus upped their price target on shares of IAMGOLD from C$6.00 to C$9.00 in a research note on Monday. Finally, National Bankshares raised IAMGOLD from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$8.50 to C$11.00 in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of C$6.74.

Insider Activity at IAMGOLD

In other IAMGOLD news, Senior Officer Bruno Lemelin sold 14,000 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of C$7.09, for a total transaction of C$99,206.80. 0.10% of the stock is owned by company insiders.

IAMGOLD Price Performance

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 stock’s 50 day moving average price is C$6.97 and its two-hundred day moving average price is C$5.89. The firm has a market capitalization of C$4.81 billion, a price-to-earnings ratio of 26.38, a PEG ratio of -0.28 and a beta of 1.47.

IAMGOLD (TSE:IMG) (NYSE:IAG) last released its earnings results on Thursday, August 8th. The mining company reported C$0.22 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.12 by C$0.10. The firm had revenue of C$527.18 million during the quarter. IAMGOLD had a net margin of 10.36% and a return on equity of 5.86%. On average, equities research analysts anticipate that IAMGOLD Co. will post 1.1121076 EPS for the current year.

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.