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

Key Points

• IAMGOLD Co. reached a new 52-week high of C$12.61, closing at C$12.57, with a trading volume of over 1.68 million shares.
• Analysts have shown positive feedback, with National Bankshares raising the target price to C$16.00 and a majority rating the stock as a Buy.
• The company has a market cap of C$5.11 billion and operates gold mining projects in North America, South America, and West Africa.

IAMGOLD Co. (TSE:IMG - Get Free Report) NYSE: IAG's share price reached a new 52-week high during trading on Wednesday . The company traded as high as C$12.61 and last traded at C$12.57, with a volume of 1683032 shares trading hands. The stock had previously closed at C$12.23.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IMG. Bank of America raised their price target on IAMGOLD from C$13.00 to C$15.50 in a report on Friday. Raymond James Financial upgraded shares of IAMGOLD to a "hold" rating in a research note on Monday, June 30th. Finally, National Bankshares boosted their target price on shares of IAMGOLD from C$15.00 to C$16.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 24th. 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 stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of C$14.17.

IAMGOLD Stock Up 3.8%

The business has a fifty day moving average price of C$10.40 and a two-hundred day moving average price of C$9.64. The company has a debt-to-equity ratio of 28.93, a current ratio of 0.89 and a quick ratio of 1.19. The firm has a market capitalization of C$7.35 billion, a price-to-earnings ratio of 8.94, a price-to-earnings-growth ratio of -0.28 and a beta of 1.09.

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.