IAMGOLD (NYSE:IAG) Sets New 1-Year High - Should You Buy?

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG shares hit a new 52-week high on Thursday . The stock traded as high as $8.38 and last traded at $8.12, with a volume of 25059920 shares. The stock had previously closed at $7.44.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on IAG shares. BMO Capital Markets assumed coverage on IAMGOLD in a research note on Wednesday, April 16th. They issued an "outperform" rating on the stock. Scotiabank upped their price target on shares of IAMGOLD from $6.75 to $7.50 and gave the company a "sector perform" rating in a research note on Monday, April 14th. StockNews.com downgraded shares of IAMGOLD from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. National Bank Financial raised shares of IAMGOLD to a "strong-buy" rating in a report on Friday, March 21st. Finally, CIBC reaffirmed an "outperform" rating on shares of IAMGOLD in a report on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.57.

IAMGOLD Stock Performance

The firm has a market capitalization of $4.39 billion, a PE ratio of 5.27 and a beta of 1.52. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $6.24 and a 200 day moving average of $5.78.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last issued its quarterly earnings data on Thursday, February 20th. The mining company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.05). The business had revenue of $469.90 million for the quarter, compared to analysts' expectations of $498.68 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. Equities research analysts predict that IAMGOLD Co. will post 0.67 EPS for the current year.

Hedge Funds Weigh In On IAMGOLD

A number of institutional investors have recently made changes to their positions in IAG. RCF Management L.L.C. purchased a new position in IAMGOLD in the fourth quarter worth $128,174,000. Millennium Management LLC lifted its stake in IAMGOLD by 88.4% during the fourth quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company's stock worth $53,307,000 after purchasing an additional 4,846,254 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of IAMGOLD by 41.6% in the 4th quarter. Invesco Ltd. now owns 7,139,935 shares of the mining company's stock worth $36,842,000 after purchasing an additional 2,098,215 shares in the last quarter. American Century Companies Inc. increased its position in shares of IAMGOLD by 25.9% during the 4th quarter. American Century Companies Inc. now owns 10,162,314 shares of the mining company's stock valued at $52,499,000 after purchasing an additional 2,092,803 shares during the last quarter. Finally, Cibc World Market Inc. increased its position in shares of IAMGOLD by 54.0% during the 4th quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company's stock valued at $26,452,000 after purchasing an additional 1,795,869 shares during the last quarter. Institutional investors 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.