IAMGOLD (TSE:IMG) Stock Crosses Above 200-Day Moving Average – Here’s Why

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$21.52 and traded as high as C$30.81. IAMGOLD shares last traded at C$30.23, with a volume of 1,533,818 shares changing hands.

Analysts Set New Price Targets

IMG has been the subject of several research reports. TD Securities lifted their price objective on IAMGOLD from C$34.00 to C$36.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Stifel Nicolaus boosted their price target on IAMGOLD from C$28.00 to C$40.00 in a report on Tuesday, February 10th. National Bank Financial increased their price objective on IAMGOLD from C$28.00 to C$34.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Finally, Bank of America boosted their target price on shares of IAMGOLD from C$32.50 to C$38.00 in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, IAMGOLD currently has an average rating of “Buy” and a consensus target price of C$31.25.

IAMGOLD Price Performance

The company has a debt-to-equity ratio of 20.08, a current ratio of 1.75 and a quick ratio of 1.19. The stock has a market capitalization of C$17.18 billion, a PE ratio of 25.60, a P/E/G ratio of -0.28 and a beta of 1.75. The company has a 50-day moving average of C$27.87 and a two-hundred day moving average of C$21.63.

IAMGOLD (TSE:IMG) (NYSE:IAG) last posted its quarterly earnings results on Tuesday, February 17th. The mining company reported C$0.96 earnings per share for the quarter. The company had revenue of C$1.46 billion for the quarter. IAMGOLD had a net margin of 23.37% and a return on equity of 18.40%. Sell-side analysts predict that IAMGOLD Co. will post 1.1121076 EPS for the current fiscal year.

About IAMGOLD

Iamgold Corp is a mid-tier gold mining company operating in three regions globally North America, South America and West Africa. Within these regions, the company is developing potential mining districts that encompass operating mines and construction, development and exploration projects. The company’s operating mines include Essakane in Burkina Faso, Rosebel in Suriname and Westwood in Canada. A solid base of strategic assets is complemented by the Cote Gold construction project in Canada, the Boto Gold development project in Senegal, as well as greenfield and brownfield exploration projects in various countries located in the Americas and West Africa.