IAMGOLD (NYSE:IAG) Hits New 1-Year High – Should You Buy?

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) hit a new 52-week high during trading on Thursday . The company traded as high as $8.38 and last traded at $8.12, with a volume of 25059920 shares trading hands. The stock had previously closed at $7.44.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on IAG shares. StockNews.com cut shares of IAMGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Scotiabank upped their target price on IAMGOLD from $6.75 to $7.50 and gave the stock a “sector perform” rating in a research report on Monday. BMO Capital Markets started coverage on IAMGOLD in a report on Wednesday. They set an “outperform” rating on the stock. National Bank Financial upgraded IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. Finally, Raymond James reaffirmed a “market perform” rating and issued a $8.00 price objective on shares of IAMGOLD in a research report on Friday, April 4th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, IAMGOLD currently has an average rating of “Moderate Buy” and an average target price of $7.57.

IAMGOLD Trading Up 9.1 %

The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The business has a 50 day simple moving average of $6.13 and a two-hundred day simple moving average of $5.71. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 5.60 and a beta of 1.52.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, February 20th. The mining company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). The company had revenue of $469.90 million for the quarter, compared to analyst estimates of $498.68 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. As a group, equities analysts anticipate that IAMGOLD Co. will post 0.67 EPS for the current year.

Institutional Investors Weigh In On IAMGOLD

A number of institutional investors have recently modified their holdings of IAG. Tobam bought a new stake in IAMGOLD in the fourth quarter valued at about $25,000. Blue Trust Inc. grew its position in shares of IAMGOLD by 157.1% in the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock worth $47,000 after acquiring an additional 5,511 shares in the last quarter. Raab & Moskowitz Asset Management LLC acquired a new stake in shares of IAMGOLD during the 4th quarter valued at approximately $56,000. Alpha Omega Wealth Management LLC bought a new position in IAMGOLD during the first quarter worth $75,000. Finally, Atria Wealth Solutions Inc. acquired a new position in IAMGOLD in the fourth quarter worth $68,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

About IAMGOLD

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.