IAMGOLD (TSE:IMG) Stock Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• IAMGOLD shares recently surpassed their 200-day moving average of C$9.52, trading as high as C$12.25 before closing at C$12.13.
• Analysts have given the stock a consensus rating of “Buy” with a target price of C$13.50, including upgrades from Raymond James and National Bankshares.
• The company, with a market cap of C$4.93 billion, operates mid-tier gold mining projects in North America, South America, and West Africa.

IAMGOLD Co. (TSE:IMG - Get Free Report) NYSE: IAG passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$9.52 and traded as high as C$12.25. IAMGOLD shares last traded at C$12.13, with a volume of 1,887,307 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IMG. National Bankshares raised their target price 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. Raymond James Financial raised IAMGOLD to a "hold" rating in a report on Monday, June 30th. Four research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of C$13.50.

IAMGOLD Stock Performance

The company has a market cap of C$5.11 billion, a P/E ratio of 6.52, a PEG ratio of -0.28 and a beta of 1.47. The stock has a fifty day moving average price of C$10.25 and a two-hundred day moving average price of C$9.57. The company has a debt-to-equity ratio of 28.93, a current ratio of 0.89 and a quick ratio of 1.19.

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.