IAMGOLD (NYSE:IAG) Shares Pass Above 200-Day Moving Average - What's Next?

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG's stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 changing hands.

Analysts Set New Price Targets

A number of research firms have recently commented on IAG. Cibc World Mkts raised IAMGOLD from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 2nd. Canaccord Genuity Group upgraded IAMGOLD from a "hold" rating to a "buy" rating and raised their price target for the company from $7.75 to $10.50 in a research note on Tuesday, October 22nd. StockNews.com downgraded IAMGOLD from a "buy" rating to a "hold" rating in a research note on Wednesday, January 1st. National Bank Financial upgraded IAMGOLD from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 10th. Finally, Canaccord Genuity Group raised IAMGOLD from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $6.68.

IAMGOLD Trading Up 0.4 %

The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 4.43 and a beta of 1.56. The business has a 50 day moving average of $5.37 and a two-hundred day moving average of $4.97. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89.

Hedge Funds Weigh In On IAMGOLD

Institutional investors and hedge funds have recently bought and sold shares of the company. ORG Partners LLC bought a new position in shares of IAMGOLD in the third quarter worth $29,000. Eastern Bank purchased a new stake in shares of IAMGOLD in the third quarter worth $30,000. Aigen Investment Management LP raised its position in shares of IAMGOLD by 10.6% in the third quarter. Aigen Investment Management LP now owns 70,244 shares of the mining company's stock worth $368,000 after buying an additional 6,704 shares in the last quarter. Geode Capital Management LLC raised its position in shares of IAMGOLD by 2.7% in the third quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company's stock worth $1,392,000 after buying an additional 6,874 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of IAMGOLD by 3.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company's stock worth $1,154,000 after buying an additional 8,972 shares in the last quarter. 47.08% of the stock is owned by institutional investors.

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.