IAMGOLD (TSE:IMG) Reaches New 1-Year High - Here's What Happened

Key Points

• IAMGOLD recently reached a new 52-week high trading at C$16.03, demonstrating a strong performance with a last trading price of C$15.68.
• Analysts have expressed positive sentiment, with several upgrades including a "moderate buy" rating from Royal Bank of Canada and increased price targets from multiple financial institutions.
• The company's market capitalization stands at C$9.29 billion, with a debt-to-equity ratio of 28.93, indicating a stable financial position.

Shares of 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$16.03 and last traded at C$15.68, with a volume of 395964 shares. The stock had previously closed at C$15.67.

Analyst Ratings Changes

A number of analysts have recently commented on IMG shares. Cormark upped their price objective on IAMGOLD from C$16.50 to C$20.00 in a report on Tuesday, September 16th. 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. National Bankshares raised their target price on shares of IAMGOLD from C$15.00 to C$16.00 and gave the stock an "outperform" rating in a report on Tuesday, June 24th. Bank of America raised their target price on shares of IAMGOLD from C$13.00 to C$15.50 in a report on Friday, August 29th. Finally, Raymond James Financial upgraded shares of IAMGOLD to a "hold" rating in a research note on Monday, June 30th. Four research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of C$15.63.

IAMGOLD Stock Up 5.7%

The business's 50 day moving average is C$11.89 and its 200 day moving average is C$10.34. 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 stock has a market cap of C$9.53 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of -0.28 and a beta of 1.11.

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.