IAMGOLD (TSE:IMG) Hits New 1-Year High – Time to Buy?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$10.41 and last traded at C$10.39, with a volume of 2198602 shares trading hands. The stock had previously closed at C$10.10.

Analysts Set New Price Targets

IMG has been the subject of several recent analyst reports. Raymond James upgraded IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. National Bankshares boosted their price target on IAMGOLD from C$13.50 to C$15.00 and gave the stock an “outperform” rating in a report on Wednesday, April 2nd. Finally, National Bank Financial raised IAMGOLD to a “strong-buy” rating in a research note on Friday, March 21st. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$10.00.

IAMGOLD Trading Up 2.9 %

The company has a debt-to-equity ratio of 28.93, a quick ratio of 1.19 and a current ratio of 0.89. The firm has a market cap of C$4.22 billion, a price-to-earnings ratio of 5.39, a PEG ratio of -0.28 and a beta of 1.47. The business has a fifty day simple moving average of C$8.70 and a 200-day simple moving average of C$8.06.

Insider Activity

In other news, Director Christiane Bergevin acquired 5,000 shares of IAMGOLD stock in a transaction dated Thursday, March 13th. The shares were bought at an average cost of C$8.29 per share, with a total value of C$41,450.00. Also, Senior Officer Bruno Lemelin sold 15,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of C$8.52, for a total transaction of C$127,786.50. Insiders bought 45,800 shares of company stock valued at $370,999 over the last quarter. 0.10% of the stock is owned by company insiders.

IAMGOLD Company Profile

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.