IAMGOLD (TSE:IMG) Sets New 1-Year High – Here’s What Happened

Shares of IAMGOLD Co. (TSE:IMG) (NYSE:IAG) hit a new 52-week high during mid-day trading on Thursday . The company 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.

Analyst Ratings Changes

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

IAMGOLD Price Performance

The firm has a market capitalization of C$3.94 billion, a P/E ratio of 5.03, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47. 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 business has a 50 day simple moving average of C$8.64 and a two-hundred day simple moving average of C$7.99.

Insider Buying and Selling

In related news, 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 value of C$127,786.50. Also, Director Lawrence Peter O’hagan purchased 4,800 shares of the stock in a transaction on Tuesday, February 25th. The shares were purchased at an average price of C$8.11 per share, for a total transaction of C$38,918.88. Over the last three months, insiders have purchased 45,800 shares of company stock worth $370,999. 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.