IAMGOLD (TSE:IMG) Shares Cross Above Two Hundred 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 crossed 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.

Analyst Upgrades and Downgrades

IMG has been the subject of several recent analyst reports. Raymond James Financial raised shares of IAMGOLD to a "hold" rating in a report on Monday, June 30th. Stifel Nicolaus raised their price objective on shares of IAMGOLD from C$9.50 to C$11.00 in a report on Monday, April 21st. Finally, 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. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, IAMGOLD currently has a consensus rating of "Buy" and a consensus price target of C$13.50.

IAMGOLD Stock Performance

The company has a market capitalization of C$4.48 billion, a price-to-earnings ratio of 5.72, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47. The company has a debt-to-equity ratio of 28.93, a quick ratio of 1.19 and a current ratio of 0.89. The company's fifty day simple moving average is C$10.00 and its two-hundred day simple moving average is C$9.42.

IAMGOLD Company Profile

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.

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