IAMGOLD (TSE:IMG) Reaches New 12-Month High - Here's Why

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 hit a new 52-week high during mid-day 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. The stock had previously closed at C$12.23.

Analyst Ratings Changes

Several analysts recently commented on the stock. Bank of America raised their price target on shares of IAMGOLD from C$13.00 to C$15.50 in a research report on Friday. National Bankshares increased 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 note on Tuesday, June 24th. Finally, Raymond James Financial upgraded IAMGOLD to a "hold" rating in a research report on Monday, June 30th. Four investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of C$14.17.

IAMGOLD Stock Performance

The stock has a market cap of C$7.35 billion, a price-to-earnings ratio of 8.94, a P/E/G ratio of -0.28 and a beta of 1.09. The firm's 50-day moving average is C$10.40 and its two-hundred day moving average is C$9.64. The company has a current ratio of 0.89, a quick ratio of 1.19 and a debt-to-equity ratio of 28.93.

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.