IAMGOLD (TSE:IMG) Reaches New 12-Month High – Still a Buy?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s share price reached a new 52-week high on Tuesday . The company traded as high as C$9.68 and last traded at C$9.36, with a volume of 2591916 shares changing hands. The stock had previously closed at C$9.04.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. Stifel Nicolaus lifted their price target on IAMGOLD from C$6.00 to C$9.00 in a research note on Monday, October 21st. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. National Bankshares cut their target price on IAMGOLD from C$12.50 to C$12.00 and set an “outperform” rating on the stock in a research report on Thursday, January 9th. Finally, Raymond James raised IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, IAMGOLD presently has an average rating of “Buy” and an average target price of C$8.30.

IAMGOLD Stock Up 1.6 %

The stock has a 50-day moving average of C$7.94 and a 200 day moving average of C$7.22. The company has a market capitalization of C$5.29 billion, a PE ratio of 28.97, a P/E/G ratio of -0.28 and a beta of 1.47. The company has a quick ratio of 1.19, a current ratio of 1.34 and a debt-to-equity ratio of 35.17.

IAMGOLD (TSE:IMG) (NYSE:IAG) last announced its earnings results on Thursday, November 7th. The mining company reported C$0.24 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the firm posted ($0.01) earnings per share. Sell-side analysts anticipate that IAMGOLD Co. will post 1.1121076 EPS for the current year.

Insider Activity at IAMGOLD

In other news, Director Renaud Adams acquired 36,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired 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 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. 0.10% of the stock is owned by company insiders.

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.