IAMGOLD (TSE:IMG) Reaches New 12-Month High – Should You Buy?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s share price reached a new 52-week high on Tuesday . The stock traded as high as C$20.76 and last traded at C$20.65, with a volume of 1145146 shares. The stock had previously closed at C$19.69.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IMG. National Bankshares lifted their price objective on shares of IAMGOLD from C$21.00 to C$23.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Stifel Nicolaus upgraded IAMGOLD from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$11.00 to C$28.00 in a report on Monday, October 20th. Canaccord Genuity Group lifted their price objective on shares of IAMGOLD from C$15.50 to C$19.50 in a research report on Thursday, October 2nd. Bank of America boosted their price target on shares of IAMGOLD from C$13.00 to C$15.50 in a research report on Friday, August 29th. Finally, Royal Bank Of Canada upgraded shares of IAMGOLD from a “hold” rating to a “moderate buy” rating in a report on Wednesday, September 10th. Four research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$21.20.

IAMGOLD Price Performance

The company has a market capitalization of C$12.51 billion, a PE ratio of 38.14, a price-to-earnings-growth ratio of -0.28 and a beta of 1.14. The firm’s 50 day simple moving average is C$17.91 and its 200 day simple moving average is C$13.22. 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 issued its quarterly earnings data on Tuesday, November 4th. The mining company reported C$0.24 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. As a group, research analysts anticipate that IAMGOLD Co. will post 1.1121076 EPS for the current fiscal year.

About IAMGOLD

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.