IAMGOLD (TSE:IMG) Sets New 52-Week High - Here's Why

Key Points

• IAMGOLD reached a new 52-week high of C$15.82 during trading, closing at C$15.59 with a trading volume of 565,204 shares.
• Analysts have upgraded their ratings on IAMGOLD, with a majority rating the stock as either Buy or Strong Buy, and the average price target now sits at C$14.17.
• The company operates globally in North America, South America, and West Africa, with key mines located in Burkina Faso, Suriname, and Canada.

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$15.82 and last traded at C$15.59, with a volume of 565204 shares trading hands. The stock had previously closed at C$15.46.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. National Bankshares raised their price objective on shares of IAMGOLD from C$15.00 to C$16.00 and gave the company an "outperform" rating in a research note on Tuesday, June 24th. Raymond James Financial upgraded shares of IAMGOLD to a "hold" rating in a research note on Monday, June 30th. Royal Bank Of Canada upgraded shares of IAMGOLD from a "hold" rating to a "moderate buy" rating in a research note on Wednesday, September 10th. Bank of America raised their price objective on shares of IAMGOLD from C$13.00 to C$15.50 in a research note on Friday, August 29th. Finally, Cormark raised their price objective on shares of IAMGOLD from C$16.50 to C$20.00 in a research note on Tuesday. Four research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of C$15.63.

IAMGOLD Stock Up 3.1%

The stock has a market capitalization of C$9.01 billion, a P/E ratio of 10.96, a PEG ratio of -0.28 and a beta of 1.11. 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 stock's fifty day moving average is C$11.75 and its two-hundred day moving average is C$10.25.

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.