IAMGOLD (TSE:IMG) Shares Pass Above 200-Day Moving Average - What's Next?

Key Points

• Technical breakout: IAMGOLD shares passed above their 200-day moving average (C$22.77), trading as high as C$26.26 and rising about 7.3% on roughly 1.84 million shares.
• Analyst optimism: Multiple firms have raised price targets (e.g., BofA to C$38, Stifel to C$40), and MarketBeat shows a consensus Buy rating with a C$31.25 target.
• Solid recent results: The company reported C$0.96 EPS on C$1.46 billion revenue last quarter, with a C$15.4 billion market cap, P/E ~22.95, net margin 23.37% and ROE 18.40%.

Shares of IAMGOLD Co. (TSE:IMG - Get Free Report) NYSE: IAG passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$22.77 and traded as high as C$26.26. IAMGOLD shares last traded at C$26.16, with a volume of 1,843,410 shares changing hands.

Analysts Set New Price Targets

Several analysts have commented on IMG shares. Bank of America upped their price objective on IAMGOLD from C$32.50 to C$38.00 in a research note on Thursday, February 26th. TD Securities boosted their target price on IAMGOLD from C$34.00 to C$36.00 and gave the company a "buy" rating in a report on Thursday, February 19th. National Bank Financial upped their price target on IAMGOLD from C$28.00 to C$34.00 and gave the stock an "outperform" rating in a research note on Friday, January 23rd. Finally, Stifel Nicolaus increased their price target on IAMGOLD from C$28.00 to C$40.00 in a report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of C$31.25.

IAMGOLD Trading Up 7.3%

The firm has a market capitalization of C$15.40 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of -0.28 and a beta of 1.75. The business's 50 day moving average price is C$27.98 and its 200-day moving average price is C$22.77. The company has a debt-to-equity ratio of 20.08, a current ratio of 1.75 and a quick ratio of 1.19.

IAMGOLD (TSE:IMG - Get Free Report) NYSE: IAG last announced its quarterly earnings data on Tuesday, February 17th. The mining company reported C$0.96 EPS for the quarter. IAMGOLD had a net margin of 23.37% and a return on equity of 18.40%. The firm had revenue of C$1.46 billion during the quarter. Equities analysts forecast that IAMGOLD Co. will post 1.1121076 EPS for the current fiscal year.

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. A solid base of strategic assets is complemented by the Cote Gold construction project in Canada, the Boto Gold development project in Senegal, as well as greenfield and brownfield exploration projects in various countries located in the Americas and West Africa.

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