IAMGOLD (TSE:IMG) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$25.24 and traded as high as C$25.80. IAMGOLD shares last traded at C$25.03, with a volume of 1,946,041 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IMG. Bank of America lifted their price objective on IAMGOLD from C$32.50 to C$38.00 in a research note on Thursday, February 26th. BMO Capital Markets lifted their price objective on IAMGOLD from C$27.00 to C$32.00 in a research note on Wednesday, April 22nd. National Bank Financial lifted their price objective on IAMGOLD from C$36.00 to C$39.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Finally, TD Securities lifted their price objective on IAMGOLD from C$34.00 to C$36.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, IAMGOLD has an average rating of “Moderate Buy” and an average price target of C$32.07.

IAMGOLD Stock Performance

The stock has a 50-day simple moving average of C$24.35 and a 200-day simple moving average of C$25.24. The company has a market capitalization of C$14.47 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of -0.28 and a beta of 2.04. The company has a current ratio of 1.89, a quick ratio of 1.19 and a debt-to-equity ratio of 15.02.

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

Insider Buying and Selling at IAMGOLD

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

IAMGOLD Company Profile

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.