IAMGOLD (TSE:IMG) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$7.49 and traded as high as C$9.08. IAMGOLD shares last traded at C$8.96, with a volume of 2,307,557 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have commented on IMG shares. National Bankshares increased their target price on IAMGOLD from C$12.00 to C$13.50 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Raymond James upgraded IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$8.68.

IAMGOLD Trading Down 8.9 %

The company has a market cap of C$3.32 billion, a price-to-earnings ratio of 4.23, a PEG ratio of -0.28 and a beta of 1.47. The firm has a 50 day moving average price of C$8.28 and a two-hundred day moving average price of C$7.53. The company has a quick ratio of 1.19, a current ratio of 0.89 and a debt-to-equity ratio of 28.93.

Insider Activity

In other news, Senior Officer Timothy Bradburn sold 16,800 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of C$8.10, for a total value of C$136,080.00. Insiders own 0.10% of the company’s stock.

IAMGOLD Company Profile

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.