NEW YORK ( TheStreet) -- Iamgold (NYSE: IAG) hit a new 52-week high Tuesday as it is currently trading at $23.60, above its previous 52-week high of $23.38 with 1.4 million shares traded as of 10:26 a.m. ET. Average volume has been 2.8 million shares over the past 30 days.

Iamgold has a market cap of $8.3 billion and is part of the basic materials sector and metals & mining industry. Shares are up 24.9% year to date as of the close of trading on Monday.

IAMGOLD Corporation, together with its subsidiaries, engages in the exploration, development, and production of mineral resource properties worldwide. It primarily explores for gold, silver, zinc, copper, niobium, diamonds, and other metals. The company has a P/E ratio of 10, equal to the average metals & mining industry P/E ratio and below the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Iamgold as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Iamgold Ratings Report.

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