IAMGOLD (TSE:IMG) Shares Cross Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• IAMGOLD shares rose 4.1% and crossed above their 200-day moving average of C$24.92, reaching C$26.60 before closing near C$26.46.
• Analysts remain bullish: four analysts rate the stock a Buy, with an average price target of C$31.07; National Bank Financial and BMO Capital Markets both raised their targets to C$32.
• The company reported C$0.60 in quarterly earnings per share on C$1.22 billion in revenue, while insiders recently purchased additional shares—though insiders collectively own only 0.10% of the company.

IAMGOLD Co. (TSE:IMG - Get Free Report) NYSE: IAG's stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$24.92 and traded as high as C$26.60. IAMGOLD shares last traded at C$26.46, with a volume of 2,209,461 shares trading hands.

Wall Street Analyst Weigh In

IMG has been the subject of a number of analyst reports. National Bank Financial lifted their target price on shares of IAMGOLD from C$31.00 to C$32.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. BMO Capital Markets boosted their target price on shares of IAMGOLD from C$27.00 to C$32.00 in a report on Wednesday, April 22nd. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, IAMGOLD presently has an average rating of "Buy" and an average price target of C$31.07.

IAMGOLD Stock Up 4.1%

The firm has a 50 day moving average of C$22.43 and a 200 day moving average of C$24.92. The firm has a market cap of C$15.11 billion, a price-to-earnings ratio of 13.36, a PEG ratio of -0.28 and a beta of 2.15. The company has a quick ratio of 1.19, a current ratio of 1.71 and a debt-to-equity ratio of 12.27.

IAMGOLD (TSE:IMG - Get Free Report) NYSE: IAG last issued its earnings results on Thursday, August 6th. The mining company reported C$0.60 earnings per share for the quarter. IAMGOLD had a return on equity of 28.08% and a net margin of 31.46%.The business had revenue of C$1.22 billion during the quarter. As a group, sell-side analysts predict that IAMGOLD Co. will post 1.1121076 earnings per share for the current year.

Insider Activity at IAMGOLD

In related news, Director Renaud Adams acquired 13,700 shares of the stock in a transaction dated Monday, June 8th. The stock was bought at an average price of C$21.89 per share, for a total transaction of C$299,893.00. Following 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 position. Also, insider Ankit Shah acquired 4,666 shares of the stock in a transaction dated Friday, June 5th. The stock was bought at an average price of C$21.43 per share, with a total value of C$99,992.38. Following the purchase, the insider directly owned 14,323 shares in the company, valued at C$306,941.89. This represents a 48.32% increase in their ownership of the stock. Company insiders own 0.10% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source