IGM Financial (OTCMKTS:IGIFF) Shares Pass Above 50 Day Moving Average – Here’s Why

Shares of IGM Financial Inc. (OTCMKTS:IGIFF) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $55.32 and traded as high as $59.78. IGM Financial shares last traded at $59.78, with a volume of 43,554 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on IGIFF shares. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of IGM Financial in a research report on Wednesday, April 29th. TD Securities reiterated a “buy” rating on shares of IGM Financial in a research report on Monday, May 11th. Scotiabank reiterated a “sector perform” rating on shares of IGM Financial in a research report on Tuesday, April 28th. Royal Bank Of Canada restated a “sector perform” rating on shares of IGM Financial in a report on Monday, May 11th. Finally, BMO Capital Markets restated a “market perform” rating on shares of IGM Financial in a report on Wednesday, April 29th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold”.

IGM Financial Trading Up 3.1%

The business has a 50-day moving average price of $55.32 and a 200-day moving average price of $49.73.

About IGM Financial

IGM Financial Inc is a Canada-based wealth and asset management company that provides a range of financial planning and investment solutions to individual and institutional clients. Through its wholly owned subsidiaries—IG Wealth Management, Mackenzie Investments, and Investment Planning Counsel—the firm offers advisory services, mutual funds, segregated funds, and a suite of managed portfolio solutions designed to meet diverse investor needs. IGM’s business model centers on delivering fee-based and commission-based products through a network of financial advisors and distribution partners across Canada.

The company’s flagship arm, IG Wealth Management, operates one of the largest financial advisor networks in the country, offering advice on retirement planning, tax strategies, estate and legacy planning, and insurance products.