Iamgold (NYSE:IAG) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Iamgold Corporation (NYSE:IAG) (TSE:IMG)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 traded.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. CIBC upped their price objective on shares of Iamgold from $10.40 to $19.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Zacks Research raised Iamgold from a “hold” rating to a “strong-buy” rating in a report on Monday, December 22nd. Stifel Canada upgraded Iamgold from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a research report on Wednesday, October 8th. Finally, Scotiabank increased their price objective on Iamgold from $8.50 to $15.00 and gave the company a “sector perform” rating in a report on Thursday, October 23rd. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Iamgold has an average rating of “Buy” and a consensus price target of $15.25.

Iamgold Stock Performance

The stock’s 50-day moving average is $15.80 and its 200 day moving average is $12.06. The stock has a market cap of $10.18 billion, a price-to-earnings ratio of 28.70, a P/E/G 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 issued its earnings results on Tuesday, November 4th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. The business had revenue of $714.61 million during the quarter, compared to the consensus estimate of $759.45 million. Iamgold had a return on equity of 10.39% and a net margin of 15.39%. As a group, analysts predict that Iamgold Corporation will post 0.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Iamgold

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tsfg LLC acquired a new position in shares of Iamgold during the 3rd quarter worth $26,000. FNY Investment Advisers LLC purchased a new stake in Iamgold during the fourth quarter worth about $38,000. Aventura Private Wealth LLC acquired a new position in Iamgold during the fourth quarter worth about $58,000. Banque Transatlantique SA purchased a new position in Iamgold in the second quarter valued at about $26,000. Finally, Parallel Advisors LLC increased its holdings in Iamgold by 272.9% in the second quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company’s stock valued at $26,000 after buying an additional 2,623 shares in the last quarter. 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.