IAMGOLD (TSE:IMG) Hits New 12-Month High - Time to Buy?

Key Points

• Shares of IAMGOLD hit a new 12-month high of C$13.25, with the last trading price at C$12.79.
• Several analysts have raised their price targets for IAMGOLD, with National Bankshares increasing it to C$16.00 and Bank of America to C$15.50, indicating strong growth expectations.
• IAMGOLD operates in North America, South America, and West Africa, with significant mining projects including Essakane, Rosebel, and Westwood.

IAMGOLD Co. (TSE:IMG - Get Free Report) NYSE: IAG's stock price reached a new 52-week high on Tuesday . The stock traded as high as C$13.25 and last traded at C$12.79, with a volume of 479096 shares trading hands. The stock had previously closed at C$12.79.

Analyst Ratings Changes

A number of research firms have issued reports on IMG. Raymond James Financial upgraded shares of IAMGOLD to a "hold" rating in a report on Monday, June 30th. National Bankshares upped their target price on shares of IAMGOLD from C$15.00 to C$16.00 and gave the company an "outperform" rating in a report on Tuesday, June 24th. Finally, Bank of America upped their target price on shares of IAMGOLD from C$13.00 to C$15.50 in a report on Friday, August 29th. Four equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of C$14.17.

IAMGOLD Stock Up 4.8%

The company has a debt-to-equity ratio of 28.93, a quick ratio of 1.19 and a current ratio of 0.89. The company has a market cap of C$7.90 billion, a PE ratio of 9.60, a PEG ratio of -0.28 and a beta of 1.11. The firm has a fifty day simple moving average of C$10.71 and a 200 day simple moving average of C$9.78.

IAMGOLD Company Profile

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.