IAMGOLD (NYSE:IAG) Share Price Crosses Above 200-Day Moving Average – What’s Next?

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.96 and traded as high as $5.67. IAMGOLD shares last traded at $5.67, with a volume of 8,259,094 shares.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IAG. StockNews.com cut IAMGOLD from a “buy” rating to a “hold” rating in a report on Wednesday, January 1st. CIBC upgraded shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. National Bank Financial upgraded shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and upped their target price for the stock from $7.75 to $10.50 in a research note on Tuesday, October 22nd. Finally, Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.68.

IAMGOLD Price Performance

The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average price is $5.37 and its two-hundred day moving average price is $4.96. The stock has a market cap of $3.24 billion, a PE ratio of 4.43 and a beta of 1.56.

Institutional Trading of IAMGOLD

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. ORG Partners LLC purchased a new stake in shares of IAMGOLD during the 3rd quarter worth $29,000. Eastern Bank bought a new position in IAMGOLD in the third quarter worth about $30,000. WINTON GROUP Ltd purchased a new stake in shares of IAMGOLD during the second quarter valued at about $52,000. Flow Traders U.S. LLC bought a new stake in shares of IAMGOLD in the 3rd quarter valued at about $93,000. Finally, Verition Fund Management LLC purchased a new position in shares of IAMGOLD in the 3rd quarter worth approximately $114,000. Institutional investors own 47.08% of the company’s stock.

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.