IAMGOLD (NYSE:IAG) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG's share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Wall Street Analyst Weigh In

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

IAMGOLD Stock Performance

The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The stock's 50-day moving average is $5.37 and its 200-day moving average is $4.97. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 4.43 and a beta of 1.56.

Institutional Investors Weigh In On IAMGOLD

A number of hedge funds have recently added to or reduced their stakes in IAG. Van ECK Associates Corp grew its stake in shares of IAMGOLD by 8.8% in the 3rd quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company's stock valued at $276,639,000 after buying an additional 4,267,084 shares in the last quarter. Two Sigma Advisers LP boosted its position in IAMGOLD by 58.8% during the third quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company's stock worth $52,735,000 after purchasing an additional 3,732,315 shares during the period. FMR LLC boosted its position in IAMGOLD by 107.9% during the third quarter. FMR LLC now owns 8,819,600 shares of the mining company's stock worth $46,174,000 after purchasing an additional 4,577,599 shares during the period. Millennium Management LLC boosted its position in IAMGOLD by 194.2% during the second quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company's stock worth $29,573,000 after purchasing an additional 5,204,715 shares during the period. Finally, American Century Companies Inc. boosted its position in IAMGOLD by 28.6% during the second quarter. American Century Companies Inc. now owns 5,708,298 shares of the mining company's stock worth $21,423,000 after purchasing an additional 1,270,608 shares during the period. 47.08% of the stock is currently 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.