IAMGOLD (NYSE:IAG) Stock Crosses Above 200 Day Moving Average of $3.15

IAMGOLD Co. (NYSE:IAG) (TSE:IMG)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.15 and traded as high as $3.73. IAMGOLD shares last traded at $3.69, with a volume of 5,515,866 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Scotiabank increased their target price on IAMGOLD from $4.25 to $4.50 and gave the stock a “sector perform” rating in a research report on Thursday, June 6th. CIBC reduced their target price on shares of IAMGOLD from $5.00 to $4.80 and set a “neutral” rating for the company in a research note on Friday, June 7th. BMO Capital Markets restated an “outperform” rating and issued a $5.00 target price on shares of IAMGOLD in a research report on Thursday, June 6th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. Finally, StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $4.01.

IAMGOLD Stock Up 0.5 %

The firm has a market capitalization of $2.13 billion, a P/E ratio of 13.30 and a beta of 1.66. The firm’s fifty day moving average price is $3.86 and its 200-day moving average price is $3.16. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.91 and a quick ratio of 0.55.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Thursday, May 9th. The mining company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. The firm had revenue of $338.90 million during the quarter. IAMGOLD had a return on equity of 3.17% and a net margin of 12.48%. During the same period in the previous year, the business posted $0.05 earnings per share. As a group, equities research analysts forecast that IAMGOLD Co. will post 0.27 earnings per share for the current year.

Institutional Investors Weigh In On IAMGOLD

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cetera Advisors LLC bought a new stake in shares of IAMGOLD in the 1st quarter worth approximately $50,000. Virtu Financial LLC grew its position in IAMGOLD by 1,034.3% in the first quarter. Virtu Financial LLC now owns 339,792 shares of the mining company’s stock worth $1,132,000 after buying an additional 309,836 shares during the last quarter. Linscomb Wealth Inc. bought a new position in shares of IAMGOLD in the first quarter valued at $67,000. Donald Smith & CO. Inc. increased its holdings in shares of IAMGOLD by 0.8% in the first quarter. Donald Smith & CO. Inc. now owns 36,077,268 shares of the mining company’s stock valued at $120,137,000 after buying an additional 298,959 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of IAMGOLD by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock valued at $58,871,000 after acquiring an additional 168,302 shares during the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

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.