IAMGOLD (TSE:IMG) Reaches New 52-Week High - Time to Buy?

Key Points

• IAMGOLD reached a new 52-week high of C$13.85, closing at C$13.76 with a trading volume of 441,198 shares.
• Analysts have upgraded IAMGOLD, with Bank of America raising the target price from C$13.00 to C$15.50 and National Bankshares increasing it to C$16.00, contributing to the consensus "Buy" rating among analysts.
• The company's financial metrics include a market capitalization of C$8.06 billion, a P/E ratio of 9.80, and a debt-to-equity ratio of 28.93, indicating strong potential despite its recent growth.

IAMGOLD Co. (TSE:IMG - Get Free Report) NYSE: IAG's share price reached a new 52-week high during trading on Monday . The company traded as high as C$13.85 and last traded at C$13.76, with a volume of 441198 shares. The stock had previously closed at C$13.73.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on IMG shares. Royal Bank Of Canada upgraded shares of IAMGOLD from a "hold" rating to a "moderate buy" rating in a research note on Wednesday. Bank of America increased their price target on shares of IAMGOLD from C$13.00 to C$15.50 in a report on Friday, August 29th. Raymond James Financial raised shares of IAMGOLD to a "hold" rating in a report on Monday, June 30th. Finally, National Bankshares increased their price target 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. 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 company. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of C$14.17.

IAMGOLD Trading Down 1.4%

The company has a market cap of C$8.57 billion, a price-to-earnings ratio of 10.43, a price-to-earnings-growth ratio of -0.28 and a beta of 1.11. The business's fifty day moving average price is C$10.97 and its 200 day moving average price is C$9.89. The company has a debt-to-equity ratio of 28.93, a current ratio of 0.89 and a quick ratio of 1.19.

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.