IAMGOLD (TSE:IMG) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of IAMGOLD Co. (TSE:IMG) (NYSE:IAG) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$6.13 and traded as high as C$7.40. IAMGOLD shares last traded at C$7.39, with a volume of 2,059,627 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently commented on IMG shares. National Bank Financial raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Stifel Nicolaus upped their price target on IAMGOLD from C$6.00 to C$9.00 in a research note on Monday, October 21st. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. National Bankshares upped their price target on IAMGOLD from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada cut IAMGOLD from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$6.91.

IAMGOLD Trading Up 6.8 %

The firm has a market capitalization of C$4.50 billion, a P/E ratio of 24.66, a PEG ratio of -0.28 and a beta of 1.47. The business has a 50 day moving average of C$7.22 and a 200-day moving average of C$6.15. The company has a current ratio of 1.34, a quick ratio of 1.19 and a debt-to-equity ratio of 35.17.

IAMGOLD (TSE:IMG) (NYSE:IAG) last issued its quarterly earnings results on Thursday, August 8th. The mining company reported C$0.22 earnings per share for the quarter, topping the consensus estimate of C$0.12 by C$0.10. The company had revenue of C$527.18 million during the quarter. IAMGOLD had a net margin of 10.36% and a return on equity of 5.86%. Analysts anticipate that IAMGOLD Co. will post 1.1121076 EPS for the current fiscal year.

Insider Transactions at IAMGOLD

In other news, Senior Officer Bruno Lemelin sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of C$7.09, for a total transaction of C$99,206.80. Company 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.