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

Key Points

• IAMGOLD reached a new 52-week high of C$18.08 during trading, closing at C$17.95 with a volume of 539,056 shares.
• Analysts have updated their ratings, with National Bankshares raising their target price from C$15.50 to C$21.00 and giving a rating of "outperform."
• The company operates globally in North America, South America, and West Africa, and is focused on developing potential mining districts across these regions.

IAMGOLD Co. (TSE:IMG - Get Free Report) NYSE: IAG reached a new 52-week high during trading on Monday . The company traded as high as C$18.08 and last traded at C$17.95, with a volume of 539056 shares changing hands. The stock had previously closed at C$17.30.

Analyst Upgrades and Downgrades

A number of research firms have commented on IMG. Bank of America raised their target price on shares of IAMGOLD from C$13.00 to C$15.50 in a research report on Friday, August 29th. Raymond James Financial raised shares of IAMGOLD to a "hold" rating in a research report on Monday, June 30th. National Bankshares raised their target price on shares of IAMGOLD from C$15.50 to C$21.00 and gave the company an "outperform" rating in a research report on Wednesday, September 24th. Cormark raised their target price on shares of IAMGOLD from C$16.50 to C$20.00 in a research report on Tuesday, September 16th. Finally, Royal Bank Of Canada raised shares of IAMGOLD from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, September 10th. Four investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of C$16.88.

IAMGOLD Stock Performance

The business's 50-day moving average price is C$12.45 and its 200-day moving average price is C$10.58. The company has a current ratio of 0.89, a quick ratio of 1.19 and a debt-to-equity ratio of 28.93. The stock has a market cap of C$10.41 billion, a PE ratio of 12.66, a P/E/G ratio of -0.28 and a beta of 1.11.

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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