IAMGOLD (TSE:IMG) Sets New 52-Week High – What’s Next?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) hit a new 52-week high on Thursday . The stock traded as high as C$9.83 and last traded at C$9.72, with a volume of 1456074 shares changing hands. The stock had previously closed at C$9.19.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. National Bank Financial raised IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. Raymond James upgraded shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. Finally, National Bankshares upped their price target on shares of IAMGOLD from C$13.50 to C$15.00 and gave the stock an “outperform” rating in a report on Wednesday, April 2nd. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$10.00.

IAMGOLD Stock Performance

The company has a 50 day simple moving average of C$8.66 and a 200 day simple moving average of C$8.01. The company has a quick ratio of 1.19, a current ratio of 0.89 and a debt-to-equity ratio of 28.93. The stock has a market cap of C$4.07 billion, a price-to-earnings ratio of 5.20, a P/E/G ratio of -0.28 and a beta of 1.47.

Insider Buying and Selling at IAMGOLD

In other IAMGOLD news, Director Lawrence Peter O’hagan bought 4,800 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were bought at an average price of C$8.11 per share, for a total transaction of C$38,918.88. Also, Senior Officer Bruno Lemelin sold 15,000 shares of IAMGOLD stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of C$8.52, for a total value of C$127,786.50. Insiders have purchased 45,800 shares of company stock worth $370,999 over the last quarter. Corporate insiders own 0.10% 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.