IAMGOLD (TSE:IMG) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Shares of IAMGOLD (TSE:IMG) recently crossed above their 200-day moving average, peaking at C$11.34 before closing at C$11.03 with a volume of 1,734,642 shares.
• Analysts have given IAMGOLD a consensus rating of "Buy"**, with a target price of C$13.50, influenced by several upgrades, including a recent one from National Bankshares raising their target from C$15.00 to C$16.00.
• The company, with a market capitalization of C$4.48 billion, operates significant gold projects in Canada and Burkina Faso and shows a relatively low price-to-earnings ratio of 5.72.

Shares of IAMGOLD Co. (TSE:IMG - Get Free Report) NYSE: IAG passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$9.42 and traded as high as C$11.34. IAMGOLD shares last traded at C$11.03, with a volume of 1,734,642 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on IMG shares. Raymond James Financial upgraded IAMGOLD to a "hold" rating in a report on Monday, June 30th. National Bankshares raised their price objective on shares of IAMGOLD from C$15.00 to C$16.00 and gave the stock an "outperform" rating in a report on Tuesday, June 24th. Finally, Stifel Nicolaus upped their target price on IAMGOLD from C$9.50 to C$11.00 in a report on Monday, April 21st. Four research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, IAMGOLD currently has an average rating of "Buy" and a consensus target price of C$13.50.

IAMGOLD Stock Performance

The business's 50 day simple moving average is C$10.04 and its two-hundred day simple moving average is C$9.46. The firm has a market capitalization of C$4.51 billion, a P/E ratio of 5.76, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47. The company has a current ratio of 0.89, a quick ratio of 1.19 and a debt-to-equity ratio of 28.93.

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.