IAMGOLD (TSE:IMG) Hits New 12-Month High – Time to Buy?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$8.82 and last traded at C$8.75, with a volume of 413861 shares changing hands. The stock had previously closed at C$8.62.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on IMG shares. Stifel Nicolaus lifted their price target on shares of IAMGOLD from C$6.00 to C$9.00 in a research report on Monday, October 21st. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. National Bankshares lowered their target price on IAMGOLD from C$12.50 to C$12.00 and set an “outperform” rating on the stock in a report on Thursday, January 9th. National Bank Financial raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. One research analyst has rated the stock with a hold rating, one has assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$8.30.

IAMGOLD Trading Up 5.3 %

The stock has a market cap of C$5.18 billion, a price-to-earnings ratio of 28.41, a PEG ratio of -0.28 and a beta of 1.47. The business has a fifty day simple moving average of C$7.83 and a 200 day simple moving average of C$7.12. The company has a debt-to-equity ratio of 35.17, a quick ratio of 1.19 and a current ratio of 1.34.

IAMGOLD (TSE:IMG) (NYSE:IAG) last announced its earnings results on Thursday, November 7th. The mining company reported C$0.24 earnings per share for the quarter, beating the consensus estimate of C$0.15 by C$0.09. IAMGOLD had a net margin of 10.36% and a return on equity of 5.86%. During the same period in the prior year, the business posted ($0.01) earnings per share. As a group, equities analysts anticipate that IAMGOLD Co. will post 1.1121076 EPS for the current year.

Insider Activity at IAMGOLD

In other news, Director Renaud Adams purchased 36,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was bought at an average cost of C$6.95 per share, for a total transaction of C$250,102.80. Also, Senior Officer Stephen Eddy sold 16,100 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of C$7.80, for a total value of C$125,580.00. Insiders own 0.10% of the company’s stock.

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.