Iamgold (NYSE:IAG) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Iamgold Corporation (NYSE:IAG) (TSE:IMG) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.06 and traded as high as $17.47. Iamgold shares last traded at $17.22, with a volume of 6,033,799 shares trading hands.

Wall Street Analyst Weigh In

IAG has been the topic of several recent analyst reports. Raymond James Financial boosted their target price on Iamgold from $9.00 to $13.00 and gave the stock a “market perform” rating in a report on Friday, October 10th. Stifel Canada upgraded Iamgold from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Zacks Research raised Iamgold from a “hold” rating to a “strong-buy” rating in a report on Monday, December 22nd. Wall Street Zen raised shares of Iamgold from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Scotiabank lifted their price objective on shares of Iamgold from $8.50 to $15.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.25.

Iamgold Stock Performance

The firm’s fifty day simple moving average is $15.92 and its 200 day simple moving average is $12.14. The company has a market capitalization of $11.85 billion, a price-to-earnings ratio of 33.47, a PEG ratio of 0.23 and a beta of 1.38. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.68 and a quick ratio of 0.95.

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

Institutional Investors Weigh In On Iamgold

A number of institutional investors have recently bought and sold shares of the business. Tsfg LLC acquired a new stake in shares of Iamgold during the third quarter worth approximately $26,000. FNY Investment Advisers LLC purchased a new stake in Iamgold in the 4th quarter worth approximately $38,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Iamgold during the 4th quarter valued at $57,000. Aventura Private Wealth LLC acquired a new stake in shares of Iamgold during the 4th quarter valued at $58,000. Finally, Banque Transatlantique SA purchased a new position in shares of Iamgold during the 2nd quarter valued at $26,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

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.