IAMGOLD (NYSE:IAG) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

IAMGOLD Co. (NYSE:IAGGet Free Report) (TSE:IMG) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.96 and traded as high as $5.67. IAMGOLD shares last traded at $5.67, with a volume of 8,259,094 shares traded.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and upped their target price for the stock from $7.75 to $10.50 in a research report on Tuesday, October 22nd. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $6.00 price objective on shares of IAMGOLD in a research report on Tuesday, October 22nd. Finally, StockNews.com cut IAMGOLD from a “buy” rating to a “hold” rating in a research report on Wednesday, January 1st. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $6.68.

Get Our Latest Report on IAG

IAMGOLD Stock Up 0.4 %

The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. The firm has a market capitalization of $3.24 billion, a P/E ratio of 4.43 and a beta of 1.56. The firm’s fifty day moving average price is $5.37 and its 200-day moving average price is $4.97.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its position in shares of IAMGOLD by 368.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,521,670 shares of the mining company’s stock valued at $7,772,000 after purchasing an additional 1,196,564 shares in the last quarter. Semanteon Capital Management LP bought a new stake in IAMGOLD during the third quarter worth approximately $503,000. Connor Clark & Lunn Investment Management Ltd. grew its position in IAMGOLD by 158.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company’s stock worth $24,301,000 after buying an additional 2,839,556 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of IAMGOLD by 8.8% in the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock valued at $276,639,000 after buying an additional 4,267,084 shares in the last quarter. Finally, U S Global Investors Inc. lifted its position in shares of IAMGOLD by 241.6% during the 3rd quarter. U S Global Investors Inc. now owns 854,114 shares of the mining company’s stock valued at $4,467,000 after acquiring an additional 604,114 shares during the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

About IAMGOLD

(Get Free Report)

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.

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