IAMGOLD (TSE:IMG) Shares Up 16.6% – What’s Next?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) shares rose 16.6% on Wednesday . The company traded as high as C$25.87 and last traded at C$25.84. Approximately 756,490 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 2,215,315 shares. The stock had previously closed at C$22.16.

Wall Street Analysts Forecast Growth

IMG has been the subject of a number of research reports. National Bank Financial boosted their price target on shares of IAMGOLD from C$36.00 to C$39.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. TD Securities lifted their price objective on shares of IAMGOLD from C$34.00 to C$36.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Stifel Nicolaus lifted their price objective on shares of IAMGOLD from C$28.00 to C$40.00 in a research note on Tuesday, February 10th. BMO Capital Markets lifted their price objective on shares of IAMGOLD from C$27.00 to C$32.00 in a research note on Wednesday, April 22nd. Finally, Bank of America lifted their price objective on shares of IAMGOLD from C$32.50 to C$38.00 in a research note on Thursday, February 26th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$32.07.

IAMGOLD Trading Up 13.9%

The company has a debt-to-equity ratio of 20.08, a current ratio of 1.75 and a quick ratio of 1.19. The company has a market capitalization of C$14.69 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of -0.28 and a beta of 2.11. The business’s 50 day simple moving average is C$26.73 and its 200 day simple moving average is C$24.06.

IAMGOLD (TSE:IMG) (NYSE:IAG) last posted its quarterly earnings data on Tuesday, May 5th. The mining company reported C$0.93 EPS for the quarter. The company had revenue of C$1.43 billion for the quarter. IAMGOLD had a net margin of 23.37% and a return on equity of 18.40%. Research analysts anticipate that IAMGOLD Co. will post 1.1121076 EPS for the current year.

About IAMGOLD

Iamgold Corp is a mid-tier gold mining company operating in three regions globally North America, South America and West Africa. Within these regions, the company is developing potential mining districts that encompass operating mines and construction, development and exploration projects. The company’s operating mines include Essakane in Burkina Faso, Rosebel in Suriname and Westwood in Canada. A solid base of strategic assets is complemented by the Cote Gold construction project in Canada, the Boto Gold development project in Senegal, as well as greenfield and brownfield exploration projects in various countries located in the Americas and West Africa.