IAMGOLD (TSE:IMG) Share Price Crosses Below 200-Day Moving Average – Should You Sell?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$25.35 and traded as low as C$22.67. IAMGOLD shares last traded at C$22.98, with a volume of 2,247,861 shares trading hands.

Wall Street Analyst Weigh In

IMG has been the subject of several research analyst reports. BMO Capital Markets raised their price objective on IAMGOLD from C$27.00 to C$32.00 in a research note on Wednesday, April 22nd. Bank of America upped their target price on IAMGOLD from C$32.50 to C$38.00 in a research report on Thursday, February 26th. Finally, National Bank Financial upped their target price on IAMGOLD from C$36.00 to C$39.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, IAMGOLD has a consensus rating of “Moderate Buy” and an average price target of C$32.07.

IAMGOLD Trading Down 3.9%

The company has a debt-to-equity ratio of 15.02, a current ratio of 1.89 and a quick ratio of 1.19. The company’s fifty day moving average is C$24.00 and its 200-day moving average is C$25.35. The stock has a market cap of C$13.28 billion, a PE ratio of 13.44, a PEG ratio of -0.28 and a beta of 2.04.

IAMGOLD (TSE:IMG) (NYSE:IAG) last posted its earnings results on Tuesday, May 5th. The mining company reported C$0.93 earnings per share (EPS) for the quarter. IAMGOLD had a net margin of 29.53% and a return on equity of 26.05%. The company had revenue of C$1.43 billion during the quarter. On average, analysts predict that IAMGOLD Co. will post 1.1121076 earnings per share for the current fiscal year.

Insider Buying and Selling at IAMGOLD

In related news, Director Daniel Racine acquired 5,000 shares of IAMGOLD stock in a transaction on Monday, May 11th. The stock was acquired at an average price of C$26.28 per share, for a total transaction of C$131,400.00. Following the purchase, the director owned 5,000 shares of the company’s stock, valued at approximately C$131,400. This represents a ∞ increase in their position. Also, Director Renaud Adams acquired 13,700 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was bought at an average cost of C$21.89 per share, with a total value of C$299,893.00. Following the acquisition, the director owned 646,867 shares in the company, valued at approximately C$14,159,918.63. This trade represents a 2.16% increase in their ownership of the stock. In the last quarter, insiders purchased 33,023 shares of company stock worth $782,657. Insiders own 0.10% of the company’s stock.

About IAMGOLD

Iamgold Corp is a mid-tier gold mining company operating in three regions globally North America, South America and West Africa. Within these regions, the company is developing potential mining districts that encompass operating mines and construction, development and exploration projects. The company’s operating mines include Essakane in Burkina Faso, Rosebel in Suriname and Westwood in Canada. A solid base of strategic assets is complemented by the Cote Gold construction project in Canada, the Boto Gold development project in Senegal, as well as greenfield and brownfield exploration projects in various countries located in the Americas and West Africa.