IAMGOLD (TSE:IMG) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$7.49 and traded as high as C$9.08. IAMGOLD shares last traded at C$8.96, with a volume of 2,307,557 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IMG. National Bankshares upped their target price on shares of IAMGOLD from C$12.00 to C$13.50 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Raymond James upgraded IAMGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, February 3rd. Finally, Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$8.68.

IAMGOLD Stock Performance

The company has a debt-to-equity ratio of 28.93, a quick ratio of 1.19 and a current ratio of 0.89. The stock has a market cap of C$3.32 billion, a P/E ratio of 4.23, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47. The company’s 50 day moving average price is C$8.28 and its 200-day moving average price is C$7.53.

Insider Transactions at IAMGOLD

In related news, Senior Officer Timothy Bradburn sold 16,800 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of C$8.10, for a total value of C$136,080.00. Company insiders own 0.10% of the company’s stock.

About IAMGOLD

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.