IAMGOLD (TSE:IMG) Sets New 12-Month High – What’s Next?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$25.05 and last traded at C$24.85, with a volume of 334319 shares trading hands. The stock had previously closed at C$23.94.

Analysts Set New Price Targets

Several equities analysts recently weighed in on IMG shares. National Bankshares increased their price target on shares of IAMGOLD from C$23.00 to C$28.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Stifel Nicolaus raised shares of IAMGOLD from a “hold” rating to a “buy” rating and increased their target price for the company from C$11.00 to C$28.00 in a research report on Monday, October 20th. Canaccord Genuity Group lifted their price target on shares of IAMGOLD from C$15.50 to C$19.50 in a report on Thursday, October 2nd. Cormark increased their price objective on IAMGOLD from C$16.50 to C$20.00 in a report on Tuesday, September 16th. Finally, Stifel Canada upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$22.20.

IAMGOLD Stock Up 4.0%

The stock has a market capitalization of C$14.77 billion, a P/E ratio of 43.68, a price-to-earnings-growth ratio of -0.28 and a beta of 1.49. The company has a debt-to-equity ratio of 28.93, a current ratio of 0.89 and a quick ratio of 1.19. The stock has a fifty day moving average price of C$21.03 and a 200 day moving average price of C$16.11.

IAMGOLD (TSE:IMG) (NYSE:IAG) last issued its quarterly earnings data 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 for the quarter. On average, research analysts forecast that IAMGOLD Co. will post 1.1121076 earnings per share for the current 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. 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.