IAMGOLD (NYSE:IAG) Sets New 52-Week High at $3.39

IAMGOLD Co. (NYSE:IAG) (TSE:IMG)’s stock price reached a new 52-week high on Thursday . The company traded as high as $3.39 and last traded at $3.38, with a volume of 5874570 shares traded. The stock had previously closed at $3.19.

Wall Street Analyst Weigh In

IAG has been the subject of a number of research analyst reports. CIBC raised their price target on IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research note on Wednesday, January 3rd. Finally, StockNews.com cut IAMGOLD from a “hold” rating to a “sell” rating in a report on Monday, February 19th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $3.31.

IAMGOLD Trading Up 4.5 %

The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.77 and a current ratio of 1.19. The business has a 50 day simple moving average of $2.70 and a 200-day simple moving average of $2.50. The stock has a market capitalization of $1.65 billion, a P/E ratio of 16.76, a price-to-earnings-growth ratio of 1.89 and a beta of 1.67.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.04. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. The firm had revenue of $297.60 million for the quarter. On average, analysts predict that IAMGOLD Co. will post 0.04 EPS for the current year.

Hedge Funds Weigh In On IAMGOLD

A number of large investors have recently made changes to their positions in the business. Intact Investment Management Inc. bought a new position in IAMGOLD during the third quarter valued at approximately $916,000. Sprott Inc. raised its holdings in shares of IAMGOLD by 888.7% during the 3rd quarter. Sprott Inc. now owns 1,279,400 shares of the mining company’s stock valued at $2,751,000 after purchasing an additional 1,150,000 shares in the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of IAMGOLD by 54.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 976,698 shares of the mining company’s stock valued at $2,100,000 after purchasing an additional 344,691 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of IAMGOLD by 0.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 987,468 shares of the mining company’s stock valued at $2,140,000 after acquiring an additional 8,485 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in IAMGOLD by 2,614.5% in the 3rd quarter. Deutsche Bank AG now owns 723,018 shares of the mining company’s stock worth $1,554,000 after purchasing an additional 696,383 shares during the last quarter. Institutional investors and hedge funds own 47.08% 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.