IAMGOLD (TSE:IMG) Hits New 52-Week High After Analyst Upgrade

Shares of IAMGOLD Co. (TSE:IMG) (NYSE:IAG) hit a new 52-week high during mid-day trading on Monday after Canaccord Genuity Group upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as C$8.45 and last traded at C$8.43, with a volume of 891600 shares. The stock had previously closed at C$8.23.

IMG has been the topic of several other research reports. Royal Bank of Canada downgraded shares of IAMGOLD from a “moderate buy” rating to a “hold” rating in a report on Tuesday, September 10th. National Bank Financial raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. National Bankshares upgraded IAMGOLD from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$8.50 to C$11.00 in a research report on Thursday, October 10th. Finally, Stifel Nicolaus upped their target price on IAMGOLD from C$6.00 to C$9.00 in a research note on Monday. Two analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, IAMGOLD currently has a consensus rating of “Buy” and a consensus target price of C$6.74.

Insider Transactions at IAMGOLD

In other IAMGOLD news, Senior Officer Bruno Lemelin sold 14,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of C$7.09, for a total value of C$99,206.80. 0.10% of the stock is currently owned by insiders.

IAMGOLD Trading Down 0.9 %

The company has a market cap of C$4.81 billion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47. The company’s fifty day moving average price is C$6.97 and its two-hundred day moving average price is C$5.89. 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 posted its quarterly earnings data on Thursday, August 8th. The mining company reported C$0.22 EPS for the quarter, topping analysts’ consensus estimates of C$0.12 by C$0.10. The company had revenue of C$527.18 million for the quarter. IAMGOLD had a return on equity of 5.86% and a net margin of 10.36%. Research analysts expect that IAMGOLD Co. will post 1.1121076 earnings per share for the current year.

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.