IAMGOLD (NYSE:IAG) Hits New 52-Week High – Still a Buy?

Shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) hit a new 52-week high during trading on Friday . The company traded as high as $7.09 and last traded at $6.87, with a volume of 34355816 shares trading hands. The stock had previously closed at $6.51.

Analysts Set New Price Targets

IAG has been the topic of several recent analyst reports. National Bank Financial upgraded shares of IAMGOLD to a “strong-buy” rating in a research note on Friday, March 21st. Raymond James reissued a “market perform” rating and set a $8.00 price target on shares of IAMGOLD in a research report on Friday, April 4th. StockNews.com cut IAMGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Finally, CIBC reissued an “outperform” rating on shares of IAMGOLD in a report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.23.

IAMGOLD Stock Performance

The company has a fifty day moving average of $6.05 and a two-hundred day moving average of $5.65. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 4.73 and a beta of 1.52. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its earnings results on Thursday, February 20th. The mining company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. The firm had revenue of $469.90 million for the quarter, compared to analyst estimates of $498.68 million. As a group, equities research analysts predict that IAMGOLD Co. will post 0.67 earnings per share for the current fiscal year.

Institutional Trading of IAMGOLD

A number of institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its position in shares of IAMGOLD by 27.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,289,000 shares of the mining company’s stock valued at $6,654,000 after buying an additional 277,000 shares in the last quarter. Cibc World Market Inc. increased its stake in IAMGOLD by 54.0% during the 4th quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company’s stock worth $26,452,000 after acquiring an additional 1,795,869 shares during the period. Triasima Portfolio Management inc. raised its holdings in IAMGOLD by 44.5% in the 4th quarter. Triasima Portfolio Management inc. now owns 352,315 shares of the mining company’s stock valued at $1,820,000 after acquiring an additional 108,524 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of IAMGOLD by 66.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,511,328 shares of the mining company’s stock valued at $7,904,000 after acquiring an additional 604,259 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of IAMGOLD during the 3rd quarter worth $1,083,000. 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.