IAMGOLD (TSE:IMG) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$22.35 and traded as low as C$22.20. IAMGOLD shares last traded at C$23.08, with a volume of 3,065,147 shares trading hands.

Wall Street Analysts Forecast Growth

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

IAMGOLD Stock Performance

The company has a current ratio of 1.75, a quick ratio of 1.19 and a debt-to-equity ratio of 20.08. The firm has a market capitalization of C$13.59 billion, a PE ratio of 20.25, a PEG ratio of -0.28 and a beta of 1.75. The stock’s 50 day moving average price is C$28.07 and its two-hundred day moving average price is C$22.35.

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

About IAMGOLD

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.