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

Key Points

• IAMGOLD has reached a new 52-week high, trading at C$19.49 and closing at C$18.94, with a significant volume of 840,867 shares traded.
• Analysts have raised their price targets for IAMGOLD, with Canaccord Genuity increasing it from C$15.50 to C$19.50 and Cormark raising it from C$16.50 to C$20.00.
• The stock holds a consensus rating of "Buy" and a current target price of C$17.40 according to research analysts.

IAMGOLD Co. (TSE:IMG - Get Free Report) NYSE: IAG hit a new 52-week high during trading on Monday . The company traded as high as C$19.49 and last traded at C$18.94, with a volume of 840867 shares changing hands. The stock had previously closed at C$18.53.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Canaccord Genuity Group upped their target price on IAMGOLD from C$15.50 to C$19.50 in a research report on Thursday. Cormark boosted their price target on IAMGOLD from C$16.50 to C$20.00 in a report on Tuesday, September 16th. Raymond James Financial raised IAMGOLD to a "hold" rating in a report on Monday, June 30th. Royal Bank Of Canada raised IAMGOLD from a "hold" rating to a "moderate buy" rating in a report on Wednesday, September 10th. Finally, Bank of America boosted their price target on IAMGOLD from C$13.00 to C$15.50 in a report on Friday, August 29th. Four research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of C$17.40.

IAMGOLD Trading Up 3.3%

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 firm has a market capitalization of C$11.01 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of -0.28 and a beta of 1.30. The company has a 50 day moving average price of C$13.29 and a two-hundred day moving average price of C$10.92.

About IAMGOLD

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.

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