IAMGOLD Corp (IMG) Shares Down 6.9% on Insider Selling
IAMGOLD Corp (TSE:IMG) (NYSE:IAG)’s share price dropped 6.9% during trading on Friday following insider selling activity. The company traded as low as C$7.71 and last traded at C$7.72. Approximately 1,842,282 shares traded hands during mid-day trading, an increase of 17% from the average daily volume of 1,570,120 shares. The stock had previously closed at C$8.29.
Specifically, insider Craig Stephen Macdougall sold 14,000 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of C$8.27, for a total transaction of C$115,780.00.
IMG has been the subject of a number of research analyst reports. TD Securities increased their price objective on shares of IAMGOLD Corp from C$8.00 to C$8.50 and gave the stock a “buy” rating in a research report on Wednesday, June 7th. CIBC increased their price objective on shares of IAMGOLD Corp from C$5.00 to C$5.75 in a research report on Wednesday, June 7th. BMO Capital Markets reaffirmed a “market perform” rating and set a C$5.00 price objective on shares of IAMGOLD Corp in a research report on Wednesday, June 7th. Royal Bank Of Canada raised their price target on shares of IAMGOLD Corp to C$8.00 and gave the company a “sector perform” rating in a research report on Thursday, June 8th. Finally, Scotiabank raised their price target on shares of IAMGOLD Corp to C$8.00 and gave the company a “sector perform” rating in a research report on Thursday, June 8th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of C$8.22.
The firm has a market capitalization of $3.55 billion and a P/E ratio of 6.96. The company’s 50-day moving average is $7.60 and its 200 day moving average is $6.35.
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IAMGOLD Corp Company Profile
IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.
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