IAMGOLD (TSE:IMG) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• IAMGOLD's stock surpassed its two hundred day moving average of C$9.31, trading as high as C$10.83, indicating a positive trend in its performance.
• Analysts have a consensus target price of C$13.50 for IAMGOLD, with multiple upgrades and a majority rating the stock as a "strong buy."
• The company has a market capitalization of C$4.39 billion and shows strong growth potential despite a current ratio of 0.89 and a high debt-to-equity ratio of 28.93.

IAMGOLD Co. (TSE:IMG - Get Free Report) NYSE: IAG's stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$9.31 and traded as high as C$10.83. IAMGOLD shares last traded at C$10.81, with a volume of 2,673,000 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IMG. National Bankshares increased their price target on shares of IAMGOLD from C$15.00 to C$16.00 and gave the company an "outperform" rating in a research report on Tuesday, June 24th. BMO Capital Markets upgraded IAMGOLD to a "strong-buy" rating in a research note on Wednesday, April 16th. Stifel Nicolaus increased their price objective on IAMGOLD from C$9.50 to C$11.00 in a report on Monday, April 21st. Finally, Raymond James Financial raised shares of IAMGOLD to a "hold" rating in a research report on Monday, June 30th. Two 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 stock. Based on data from MarketBeat, IAMGOLD has an average rating of "Buy" and a consensus price target of C$13.50.

IAMGOLD Trading Down 1.0%

The company has a current ratio of 0.89, a quick ratio of 1.19 and a debt-to-equity ratio of 28.93. The stock's 50 day moving average is C$9.95 and its 200-day moving average is C$9.36. The company has a market cap of C$4.16 billion, a P/E ratio of 5.31, a PEG ratio of -0.28 and a beta of 1.47.

About IAMGOLD

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.