IAMGOLD (TSE:IMG) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Shares of IAMGOLD Co. (TSE:IMG) (NYSE:IAG) crossed above its 200-day moving average during trading on Friday . The stock has a 200-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 Analysts Forecast Growth

IMG has been the topic of several recent research reports. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Raymond James raised shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, February 3rd. Finally, National Bankshares upped their price target 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. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$8.68.

IAMGOLD Stock Performance

The company has a market cap of C$3.51 billion, a P/E ratio of 4.49, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47. The company’s fifty day moving average is C$8.50 and its 200 day moving average is C$7.80. The company has a current ratio of 0.89, a quick ratio of 1.19 and a debt-to-equity ratio of 28.93.

Insiders Place Their Bets

In other IAMGOLD news, Director Renaud Adams acquired 35,000 shares of the stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of C$8.08 per share, for a total transaction of C$282,660.00. Also, Director Lawrence Peter O’hagan bought 4,800 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were acquired at an average cost of C$8.11 per share, for a total transaction of C$38,918.88. Insiders purchased 45,800 shares of company stock worth $370,999 over the last three months. Company insiders own 0.10% of the company’s stock.

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.