IAMGOLD (TSE:IMG) Shares Cross Above 200 Day Moving Average – Should You Sell?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$25.04 and traded as high as C$28.52. IAMGOLD shares last traded at C$28.35, with a volume of 1,335,921 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have commented on IMG. National Bank Financial lifted their price objective on shares of IAMGOLD from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Jefferies Financial Group upgraded shares of IAMGOLD to a “strong-buy” rating in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$31.07.

IAMGOLD Stock Performance

The company has a market cap of C$15.94 billion, a P/E ratio of 14.10, a PEG ratio of -0.28 and a beta of 2.15. The stock has a fifty day moving average price of C$23.56 and a two-hundred day moving average price of C$25.02. The company has a debt-to-equity ratio of 12.27, a current ratio of 1.71 and a quick ratio of 1.19.

IAMGOLD (TSE:IMG) (NYSE:IAG) last posted its earnings results on Thursday, August 6th. The mining company reported C$0.60 EPS for the quarter. The firm had revenue of C$1.22 billion for the quarter. IAMGOLD had a return on equity of 28.08% and a net margin of 31.46%. On average, equities analysts forecast that IAMGOLD Co. will post 1.1121076 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Renaud Adams acquired 13,700 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were acquired at an average price of C$21.89 per share, for a total transaction of C$299,893.00. Following the completion of the purchase, the director directly owned 646,867 shares of the company’s stock, valued at C$14,159,918.63. The trade was a 2.16% increase in their ownership of the stock. Also, insider Ankit Shah purchased 4,666 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were purchased at an average cost of C$21.43 per share, with a total value of C$99,992.38. Following the completion of the purchase, the insider owned 14,323 shares in the company, valued at C$306,941.89. This represents a 48.32% increase in their position. 0.10% of the stock is owned by company insiders.

IAMGOLD Company Profile

IAMGOLD is an intermediate gold producer and developer based in Canada with operating mines in North America and West Africa, including Côté Gold (Canada), Westwood (Canada) and Essakane (Burkina Faso). The Côté Gold Mine is among the largest gold mines in production in Canada, which IAMGOLD operates in a 70|30 partnership with Sumitomo Metal Mining Co Ltd. (‘SMM’). In addition, the Company has an established portfolio of early stage and advanced exploration projects within high potential mining districts, including the large-scale Nelligan Mining Complex located in Quebec, Canada.