IAMGOLD (TSE:IMG) Shares Pass Above 200 Day Moving Average – Here’s What Happened

IAMGOLD Co. (TSE:IMG) (NYSE:IAG)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$7.79 and traded as high as C$8.81. IAMGOLD shares last traded at C$8.65, with a volume of 3,990,276 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IMG. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. National Bankshares lifted their price objective on shares of IAMGOLD from C$12.00 to C$13.50 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Finally, Raymond James raised shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, one has given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$8.68.

IAMGOLD Trading Down 2.6 %

The stock’s fifty day moving average price is C$8.50 and its 200 day moving average price is C$7.80. The stock has a market capitalization of C$3.51 billion, a P/E ratio of 4.49, a PEG ratio of -0.28 and a beta of 1.47. The company has a debt-to-equity ratio of 28.93, a current ratio of 0.89 and a quick ratio of 1.19.

Insider Activity

In other news, Director Renaud Adams acquired 35,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of C$8.08 per share, for a total transaction of C$282,660.00. Also, Director Lawrence Peter O’hagan bought 4,800 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were acquired at an average price of C$8.11 per share, for a total transaction of C$38,918.88. Over the last quarter, insiders purchased 45,800 shares of company stock valued at $370,999. Corporate insiders own 0.10% of the company’s stock.

About IAMGOLD

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.