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

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$21.52 and traded as high as C$30.81. IAMGOLD shares last traded at C$30.23, with a volume of 1,533,818 shares changing hands.

Analyst Ratings Changes

Several brokerages have commented on IMG. Stifel Nicolaus raised their price target on shares of IAMGOLD from C$28.00 to C$40.00 in a report on Tuesday, February 10th. National Bank Financial upped their target price on IAMGOLD from C$28.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. TD Securities raised their price objective on shares of IAMGOLD from C$34.00 to C$36.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Finally, Bank of America boosted their target price on IAMGOLD from C$32.50 to C$38.00 in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$31.25.

IAMGOLD Stock Performance

The company has a market capitalization of C$17.80 billion, a P/E ratio of 26.52, a price-to-earnings-growth ratio of -0.28 and a beta of 1.75. The company’s 50 day moving average is C$27.60 and its 200-day moving average is C$21.52. The company has a current ratio of 1.75, a quick ratio of 1.19 and a debt-to-equity ratio of 20.08.

IAMGOLD (TSE:IMG) (NYSE:IAG) last announced its earnings results on Tuesday, February 17th. The mining company reported C$0.96 earnings per share for the quarter. IAMGOLD had a net margin of 23.37% and a return on equity of 18.40%. The business had revenue of C$1.46 billion during the quarter. Equities analysts anticipate that IAMGOLD Co. will post 1.1121076 EPS for the current fiscal year.

IAMGOLD Company Profile

Iamgold Corp is a mid-tier gold mining company operating in three regions globally North America, South America and West Africa. Within these regions, the company is developing potential mining districts that encompass operating mines and construction, development and exploration projects. The company’s operating mines include Essakane in Burkina Faso, Rosebel in Suriname and Westwood in Canada. A solid base of strategic assets is complemented by the Cote Gold construction project in Canada, the Boto Gold development project in Senegal, as well as greenfield and brownfield exploration projects in various countries located in the Americas and West Africa.