IAMGOLD (TSE:IMG) Hits New 52-Week High – Time to Buy?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$22.06 and last traded at C$21.65, with a volume of 381829 shares traded. The stock had previously closed at C$21.92.

Wall Street Analysts Forecast Growth

IMG has been the topic of a number of recent research reports. Royal Bank Of Canada raised IAMGOLD from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, September 10th. Bank of America raised their price target on shares of IAMGOLD from C$13.00 to C$15.50 in a research note on Friday, August 29th. National Bankshares lifted their price objective on shares of IAMGOLD from C$21.00 to C$23.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. Stifel Canada raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Finally, Cormark raised their target price on shares of IAMGOLD from C$16.50 to C$20.00 in a research report on Tuesday, September 16th. Four equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$21.20.

IAMGOLD Stock Performance

The stock has a market capitalization of C$12.41 billion, a P/E ratio of 37.86, a P/E/G ratio of -0.28 and a beta of 1.14. The stock has a 50 day simple moving average of C$18.16 and a two-hundred day simple moving average of C$13.43. The company has a quick ratio of 1.19, a current ratio of 0.89 and a debt-to-equity ratio of 28.93.

IAMGOLD (TSE:IMG) (NYSE:IAG) last released its quarterly earnings data on Tuesday, November 4th. The mining company reported C$0.24 EPS for the quarter. IAMGOLD had a return on equity of 27.91% and a net margin of 49.57%.The company had revenue of C$984.02 million during the quarter. On average, equities analysts forecast 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.