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

Key Points

• IAMGOLD's share price crossed above its 200‑day moving average (200‑day MA C$23.19), trading as high as C$28.60 and last at C$27.23 on ~2.0 million shares, a bullish technical signal.
• Several brokers have lifted price targets—Stifel to C$40 and Bank of America to C$38 among them—resulting in a consensus Buy rating and an average target of C$31.25.
• Recent results show underlying strength: quarterly EPS of C$0.96 on C$1.46B revenue (net margin 23.4%), with a market cap of C$15.85B and a P/E of 23.9.

IAMGOLD Co. (TSE:IMG - Get Free Report) NYSE: IAG's share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$23.19 and traded as high as C$28.60. IAMGOLD shares last traded at C$27.23, with a volume of 2,004,564 shares.

Wall Street Analysts Forecast Growth

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

IAMGOLD Stock Up 1.6%

The company has a debt-to-equity ratio of 20.08, a quick ratio of 1.19 and a current ratio of 1.75. The company has a market cap of C$15.85 billion, a price-to-earnings ratio of 23.89, a price-to-earnings-growth ratio of -0.28 and a beta of 2.11. The stock's fifty day moving average is C$27.78 and its two-hundred day moving average is C$23.19.

IAMGOLD (TSE:IMG - Get Free Report) NYSE: IAG last posted its earnings results on Tuesday, February 17th. The mining company reported C$0.96 earnings per share for the quarter. IAMGOLD had a net margin of 23.37% and a return on equity of 18.40%. The company had revenue of C$1.46 billion for the quarter. Sell-side analysts predict that IAMGOLD Co. will post 1.1121076 earnings per share for the current fiscal year.

IAMGOLD Company Profile

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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