IAMGOLD (NYSE:IAG) Sets New 12-Month High at $3.70

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $3.70 and last traded at $3.69, with a volume of 2993706 shares. The stock had previously closed at $3.62.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. National Bank Financial reaffirmed a "sector perform spec overwgt" rating on shares of IAMGOLD in a research report on Wednesday, January 3rd. StockNews.com downgraded shares of IAMGOLD from a "hold" rating to a "sell" rating in a report on Monday, February 19th. Finally, CIBC upped their price objective on shares of IAMGOLD from $3.00 to $3.10 and gave the company a "neutral" rating in a report on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $3.31.

IAMGOLD Price Performance

The firm has a fifty day moving average of $2.79 and a 200 day moving average of $2.53. The company has a market capitalization of $1.81 billion, a P/E ratio of 19.16, a P/E/G ratio of 2.23 and a beta of 1.70. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.36.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last announced its earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.04. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. The business had revenue of $297.60 million for the quarter. On average, equities research analysts anticipate that IAMGOLD Co. will post 0.04 EPS for the current year.

Hedge Funds Weigh In On IAMGOLD

Several large investors have recently modified their holdings of IAG. Helikon Investments Ltd bought a new position in shares of IAMGOLD during the 4th quarter valued at approximately $23,722,000. Two Sigma Investments LP grew its position in IAMGOLD by 492.0% in the 1st quarter. Two Sigma Investments LP now owns 7,284,801 shares of the mining company's stock valued at $19,742,000 after acquiring an additional 6,054,262 shares during the last quarter. Norges Bank bought a new position in IAMGOLD in the 4th quarter valued at $12,557,000. Donald Smith & CO. Inc. grew its position in IAMGOLD by 13.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 35,778,309 shares of the mining company's stock valued at $90,519,000 after acquiring an additional 4,358,444 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in IAMGOLD in the 4th quarter valued at $10,972,000. Institutional investors own 47.08% of the company's stock.

About IAMGOLD

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.