IAMGOLD (TSE:IMG) Reaches New 12-Month High - Should You Buy?

Key Points

• IAMGOLD's stock recently reached a new 52-week high, trading at C$19.92 before closing at C$19.78.
• Analyst ratings have improved, with several firms raising their price targets significantly, some even giving IAMGOLD an "outperform" rating.
• The company operates in key mining regions globally, including North America, South America, and West Africa, with notable mines in Burkina Faso, Suriname, and Canada.

IAMGOLD Co. (TSE:IMG - Get Free Report) NYSE: IAG's stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$19.92 and last traded at C$19.78, with a volume of 510370 shares trading hands. The stock had previously closed at C$19.12.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Bank of America boosted their price target on IAMGOLD from C$13.00 to C$15.50 in a research note on Friday, August 29th. Raymond James Financial raised IAMGOLD to a "hold" rating in a report on Monday, June 30th. Royal Bank Of Canada raised IAMGOLD from a "hold" rating to a "moderate buy" rating in a report on Wednesday, September 10th. Canaccord Genuity Group increased their target price on IAMGOLD from C$15.50 to C$19.50 in a report on Thursday, October 2nd. Finally, National Bankshares increased their price target on IAMGOLD from C$15.50 to C$21.00 and gave the company an "outperform" rating in a report on Wednesday, September 24th. Four research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, IAMGOLD currently has an average rating of "Buy" and an average target price of C$17.40.

IAMGOLD Stock Performance

The stock has a fifty day moving average of C$14.52 and a 200-day moving average of C$11.36. The stock has a market cap of C$11.43 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of -0.28 and a beta of 1.30. The company has a quick ratio of 1.19, a current ratio of 0.89 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.

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