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

Key Points

• IAMGOLD shares crossed above their 200-day moving average, trading as high as C$28.52 compared with the C$25.04 average, and last changing hands at C$28.35.
• Analyst sentiment remains positive: the stock carries a consensus “Buy” rating with a C$31.07 price target. National Bank Financial raised its target to C$32.00, while Jefferies upgraded the shares to “strong buy.”
• The company reported C$0.60 quarterly EPS on C$1.22 billion in revenue, alongside a 31.46% net margin and 28.08% return on equity. Insiders also purchased shares, including acquisitions by an insider and a director in June.

IAMGOLD Co. (TSE:IMG - Get Free Report) NYSE: IAG's stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$25.04 and traded as high as C$28.52. IAMGOLD shares last traded at C$28.35, with a volume of 1,335,921 shares traded.

Analyst Upgrades and Downgrades

IMG has been the subject of several recent research reports. National Bank Financial lifted their target price on shares of IAMGOLD from C$31.00 to C$32.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. Jefferies Financial Group upgraded shares of IAMGOLD to a "strong-buy" rating in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of C$31.07.

IAMGOLD Stock Performance

The company has a quick ratio of 1.19, a current ratio of 1.71 and a debt-to-equity ratio of 12.27. The company has a market capitalization of C$16.19 billion, a PE ratio of 14.32, a PEG ratio of -0.28 and a beta of 2.15. The company has a 50-day moving average price of C$23.48 and a two-hundred day moving average price of C$25.04.

IAMGOLD (TSE:IMG - Get Free Report) NYSE: IAG last issued its quarterly earnings data on Thursday, August 6th. The mining company reported C$0.60 earnings per share (EPS) for the quarter. IAMGOLD had a return on equity of 28.08% and a net margin of 31.46%.The business had revenue of C$1.22 billion for the quarter. Analysts predict that IAMGOLD Co. will post 1.1121076 EPS for the current fiscal year.

Insider Activity

In other news, insider Ankit Shah purchased 4,666 shares of the stock in a transaction dated Friday, June 5th. The shares were purchased at an average cost of C$21.43 per share, with a total value of C$99,992.38. Following the completion of the acquisition, the insider owned 14,323 shares in the company, valued at C$306,941.89. This represents a 48.32% increase in their position. Also, Director Renaud Adams acquired 13,700 shares of the business's stock in a transaction dated Monday, June 8th. The stock was purchased at an average price of C$21.89 per share, with a total value of C$299,893.00. Following the completion of the transaction, the director directly owned 646,867 shares of the company's stock, valued at C$14,159,918.63. This trade represents a 2.16% increase in their position. Corporate insiders own 0.10% of the company's stock.

About IAMGOLD

IAMGOLD is an intermediate gold producer and developer based in Canada with operating mines in North America and West Africa, including Côté Gold (Canada), Westwood (Canada) and Essakane (Burkina Faso). The Côté Gold Mine is among the largest gold mines in production in Canada, which IAMGOLD operates in a 70|30 partnership with Sumitomo Metal Mining Co Ltd. ('SMM'). In addition, the Company has an established portfolio of early stage and advanced exploration projects within high potential mining districts, including the large-scale Nelligan Mining Complex located in Quebec, Canada.

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