IAMGOLD (TSE:IMG) Sets New 1-Year High Following Analyst Upgrade

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s stock price reached a new 52-week high on Monday after National Bankshares raised their price target on the stock from C$28.00 to C$34.00. National Bankshares currently has an outperform rating on the stock. IAMGOLD traded as high as C$30.13 and last traded at C$29.82, with a volume of 639444 shares changing hands. The stock had previously closed at C$28.69.

A number of other analysts have also recently commented on the stock. Canaccord Genuity Group increased their price target on shares of IAMGOLD from C$15.50 to C$19.50 in a research note on Thursday, October 2nd. Stifel Nicolaus upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and raised their target price for the company from C$11.00 to C$28.00 in a research note on Monday, October 20th. Finally, TD Securities boosted their price target on IAMGOLD from C$24.00 to C$34.00 in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, IAMGOLD has an average rating of “Buy” and a consensus price target of C$25.17.

IAMGOLD Stock Performance

The company has a market cap of C$17.68 billion, a P/E ratio of 52.32, a price-to-earnings-growth ratio of -0.28 and a beta of 1.49. The company has a quick ratio of 1.19, a current ratio of 0.89 and a debt-to-equity ratio of 28.93. The stock has a 50 day moving average price of C$22.61 and a two-hundred day moving average price of C$17.23.

IAMGOLD (TSE:IMG) (NYSE:IAG) last released its quarterly earnings results 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 business had revenue of C$984.02 million during the quarter. On average, research analysts predict that IAMGOLD Co. will post 1.1121076 earnings per share 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.