Iamgold (NYSE:IAG) Stock Passes Above 200 Day Moving Average – Should You Sell?

Shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $13.22 and traded as high as $19.36. Iamgold shares last traded at $19.14, with a volume of 7,632,213 shares changing hands.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Raymond James Financial increased their target price on shares of Iamgold from $9.00 to $13.00 and gave the stock a “market perform” rating in a research report on Friday, October 10th. Zacks Research downgraded Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Wall Street Zen raised Iamgold from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Scotiabank upped their target price on Iamgold to $23.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Iamgold in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.25.

Iamgold Stock Up 6.5%

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.68 and a quick ratio of 0.95. The firm has a market capitalization of $11.31 billion, a P/E ratio of 31.90, a price-to-earnings-growth ratio of 0.23 and a beta of 1.36. The business has a 50 day moving average price of $17.41 and a 200 day moving average price of $13.22.

Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Tuesday, November 4th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. The firm had revenue of $714.61 million for the quarter, compared to analyst estimates of $759.45 million. Iamgold had a return on equity of 10.39% and a net margin of 15.39%. On average, analysts predict that Iamgold Corporation will post 0.67 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Rathbones Group PLC grew its position in Iamgold by 1,037,042.8% during the fourth quarter. Rathbones Group PLC now owns 418,901,982 shares of the mining company’s stock worth $6,907,694,000 after buying an additional 418,861,592 shares in the last quarter. Van ECK Associates Corp raised its holdings in Iamgold by 35.7% in the 3rd quarter. Van ECK Associates Corp now owns 51,992,067 shares of the mining company’s stock valued at $672,253,000 after acquiring an additional 13,691,148 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Iamgold by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 23,836,156 shares of the mining company’s stock worth $393,328,000 after acquiring an additional 1,068,465 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Iamgold by 12.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 20,917,319 shares of the mining company’s stock worth $154,046,000 after purchasing an additional 2,302,527 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Iamgold by 16.4% during the third quarter. Bank of America Corp DE now owns 11,194,505 shares of the mining company’s stock valued at $144,745,000 after purchasing an additional 1,581,064 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.

Iamgold Company Profile

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.