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

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) shares hit a new 52-week high on Tuesday . The stock traded as high as C$9.68 and last traded at C$9.36, with a volume of 2591916 shares changing hands. The stock had previously closed at C$9.04.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Stifel Nicolaus increased their price target on shares of IAMGOLD from C$6.00 to C$9.00 in a research report on Monday, October 21st. National Bankshares dropped their target price on shares of IAMGOLD from C$12.50 to C$12.00 and set an “outperform” rating for the company in a research report on Thursday, January 9th. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, National Bank Financial raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a hold rating, one has given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$8.30.

IAMGOLD Stock Performance

The company has a current ratio of 1.34, a quick ratio of 1.19 and a debt-to-equity ratio of 35.17. The company’s 50 day moving average is C$7.88 and its 200-day moving average is C$7.19. The company has a market capitalization of C$5.34 billion, a P/E ratio of 29.25, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47.

IAMGOLD (TSE:IMG) (NYSE:IAG) last issued its quarterly earnings results on Thursday, November 7th. The mining company reported C$0.24 earnings per share (EPS) for the quarter, topping 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 last year, the business posted ($0.01) earnings per share. Equities analysts anticipate that IAMGOLD Co. will post 1.1121076 EPS for the current fiscal year.

Insider Buying and Selling

In other IAMGOLD news, Senior Officer Stephen Eddy sold 16,100 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of C$7.80, for a total transaction of C$125,580.00. Also, Director Renaud Adams acquired 36,000 shares of IAMGOLD stock in a transaction on Tuesday, November 12th. The shares were purchased at an average price of C$6.95 per share, with a total value of C$250,102.80. 0.10% of the stock is owned by company insiders.

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.