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

IAMGOLD Co. (TSE:IMG - Get Free Report) NYSE: IAG shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$7.79 and traded as high as C$8.81. IAMGOLD shares last traded at C$8.65, with a volume of 3,990,276 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IMG. Raymond James raised shares of IAMGOLD from a "strong sell" rating to a "hold" rating in a report on Monday, February 3rd. National Bank Financial raised IAMGOLD to a "strong-buy" rating in a report on Friday. National Bankshares upped their price objective on IAMGOLD from C$12.00 to C$13.50 and gave the stock an "outperform" rating in a research note on Tuesday, February 11th. Finally, Cibc World Mkts raised IAMGOLD from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 2nd. Two research analysts have rated the stock with a hold rating, one has given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of C$8.68.

IAMGOLD Price Performance

The business has a fifty day moving average price of C$8.51 and a 200 day moving average price of C$7.81. The company has a debt-to-equity ratio of 28.93, a current ratio of 0.89 and a quick ratio of 1.19. The company has a market capitalization of C$3.51 billion, a price-to-earnings ratio of 4.48, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47.

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Insider Activity at IAMGOLD

In other IAMGOLD news, Senior Officer Bruno Lemelin sold 15,000 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of C$8.52, for a total value of C$127,786.50. Also, Director Christiane Bergevin acquired 5,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of C$8.29 per share, for a total transaction of C$41,450.00. Insiders have purchased 45,800 shares of company stock worth $370,999 over the last quarter. 0.10% of the stock is currently owned by company insiders.

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.