IAMGOLD (TSE:IMG) Reaches New 1-Year High – Should You Buy?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s share price hit a new 52-week high during 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 changing hands. The stock had previously closed at C$10.10.

Analysts Set New Price Targets

IMG has been the topic of a number of research reports. National Bank Financial raised IAMGOLD to a “strong-buy” rating in a research report on Friday, March 21st. National Bankshares upped their price objective 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. Finally, Raymond James upgraded shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating, one has given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, IAMGOLD has an average rating of “Buy” and a consensus price target of C$10.00.

IAMGOLD Stock Up 2.9 %

The company has a current ratio of 0.89, a quick ratio of 1.19 and a debt-to-equity ratio of 28.93. The stock has a market capitalization of C$4.22 billion, a PE ratio of 5.39, a P/E/G ratio of -0.28 and a beta of 1.47. The stock’s fifty day simple moving average is C$8.70 and its 200-day simple moving average is C$8.06.

Insiders Place Their Bets

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

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.