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

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s share price crossed 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 changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. National Bankshares increased their price objective on IAMGOLD from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. National Bank Financial upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. Stifel Nicolaus increased their price objective on IAMGOLD from C$6.00 to C$9.00 in a research report on Monday, October 21st. Finally, Royal Bank of Canada cut IAMGOLD from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$6.91.

IAMGOLD Stock Up 6.8 %

The company has a debt-to-equity ratio of 35.17, a current ratio of 1.34 and a quick ratio of 1.19. The company has a market cap 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 stock has a 50-day moving average of C$7.22 and a 200 day moving average of C$6.15.

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

Insider Buying and Selling at IAMGOLD

In other IAMGOLD news, Senior Officer Bruno Lemelin sold 14,000 shares of IAMGOLD stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of C$7.09, for a total value 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.