IAMGOLD (TSE:IMG) Sets New 52-Week High – Still a Buy?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$8.82 and last traded at C$8.75, with a volume of 413861 shares. The stock had previously closed at C$8.62.

Analysts Set New Price Targets

IMG has been the subject of several recent analyst reports. Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. National Bank Financial upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Stifel Nicolaus raised their price objective on IAMGOLD from C$6.00 to C$9.00 in a report on Monday, October 21st. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. Finally, National Bankshares decreased their price objective on IAMGOLD from C$12.50 to C$12.00 and set an “outperform” rating on the stock in a report on Thursday, January 9th. One equities research analyst has rated the stock with a hold rating, one has issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, IAMGOLD currently has a consensus rating of “Buy” and an average 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 stock’s 50-day moving average price is C$7.81 and its 200-day moving average price is C$7.10. The company has a market capitalization of C$4.86 billion, a P/E ratio of 26.66, a P/E/G ratio of -0.28 and a beta of 1.47.

IAMGOLD (TSE:IMG) (NYSE:IAG) last posted its earnings results on Thursday, November 7th. The mining company reported C$0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.15 by C$0.09. IAMGOLD had a return on equity of 5.86% and a net margin of 10.36%. During the same period in the previous year, the business earned ($0.01) EPS. As a group, equities analysts expect that IAMGOLD Co. will post 1.1121076 EPS for the current year.

Insider Transactions at IAMGOLD

In other IAMGOLD news, Director Renaud Adams purchased 36,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were purchased at an average cost of C$6.95 per share, for a total transaction of C$250,102.80. Also, Senior Officer Timothy Bradburn sold 16,800 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of C$8.10, for a total transaction of C$136,080.00. Company insiders own 0.10% 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.