IAMGOLD (TSE:IMG) Hits New 1-Year High – Time to Buy?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) hit a new 52-week high during 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 changing hands. The stock had previously closed at C$8.62.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IMG. Stifel Nicolaus raised their price objective on IAMGOLD from C$6.00 to C$9.00 in a research note on Monday, October 21st. National Bankshares reduced their price objective on shares of IAMGOLD from C$12.50 to C$12.00 and set an “outperform” rating for the company in a research note on Thursday, January 9th. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. National Bank Financial raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. One research 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$8.30.

IAMGOLD Trading Down 1.0 %

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 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. The business’s fifty day simple moving average is C$7.81 and its two-hundred day simple moving average is C$7.10.

IAMGOLD (TSE:IMG) (NYSE:IAG) last released its earnings results on Thursday, November 7th. The mining company reported C$0.24 earnings per share for the quarter, beating 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 in the previous year, the firm earned ($0.01) earnings per share. As a group, analysts forecast that IAMGOLD Co. will post 1.1121076 earnings per share for the current year.

Insider Transactions at IAMGOLD

In other news, Senior Officer Timothy Bradburn sold 16,800 shares of IAMGOLD stock in a transaction dated Monday, December 9th. The shares were sold at an average price of C$8.10, for a total transaction of C$136,080.00. Also, Senior Officer Stephen Eddy sold 16,100 shares of IAMGOLD 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. 0.10% of the stock is owned by 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.