Iamgold (NYSE:IAG) Stock Crosses Above 200-Day Moving Average – Here’s What Happened
by Danessa Lincoln · The Markets DailyIamgold Corporation (NYSE:IAG – Get Free Report) (TSE:IMG) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-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 changing hands.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the company. Scotiabank lifted their target price on Iamgold from $8.50 to $15.00 and gave the company a “sector perform” rating in a research report on Thursday, October 23rd. Wall Street Zen raised shares of Iamgold from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Zacks Research raised shares of Iamgold from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 22nd. CIBC boosted their price target 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. Finally, Stifel Canada upgraded shares of Iamgold from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Iamgold has a consensus rating of “Buy” and an average price target of $15.25.
Get Our Latest Stock Report on Iamgold
Iamgold Stock Down 2.0%
The company has a debt-to-equity ratio of 0.27, a current ratio of 1.68 and a quick ratio of 0.95. The company has a market cap of $10.18 billion, a PE ratio of 28.70, a P/E/G ratio of 0.23 and a beta of 1.38. The business’s 50 day moving average is $15.80 and its 200-day moving average is $12.06.
Iamgold (NYSE:IAG – Get Free Report) (TSE:IMG) last announced its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. The business had revenue of $714.61 million for the quarter, compared to analyst estimates of $759.45 million. Iamgold had a net margin of 15.39% and a return on equity of 10.39%. As a group, analysts predict that Iamgold Corporation will post 0.67 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC lifted its stake in Iamgold by 272.9% during the second quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company’s stock worth $26,000 after purchasing an additional 2,623 shares during the last quarter. Tsfg LLC acquired a new stake in Iamgold during the third quarter worth approximately $26,000. Banque Transatlantique SA purchased a new stake in shares of Iamgold during the 2nd quarter worth approximately $26,000. FNY Investment Advisers LLC purchased a new stake in shares of Iamgold during the 4th quarter worth approximately $38,000. Finally, Aventura Private Wealth LLC acquired a new position in shares of Iamgold in the 4th quarter valued at $58,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.
About Iamgold
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.