IAMGOLD (NYSE:IAG) Stock Passes Above 200 Day Moving Average – Time to Sell?

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) shares crossed 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 trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. CIBC raised shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and boosted their target price for the stock from $7.75 to $10.50 in a research report on Tuesday, October 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $6.00 price objective on shares of IAMGOLD in a research note on Tuesday, October 22nd. Finally, National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Three 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.68.

IAMGOLD Price Performance

The company has a 50 day simple moving average of $5.37 and a 200-day simple moving average of $4.97. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 4.43 and a beta of 1.56. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24.

Institutional Trading of IAMGOLD

Hedge funds and other institutional investors have recently made changes to their positions in the business. ORG Partners LLC bought a new stake in IAMGOLD during the third quarter worth about $29,000. Eastern Bank bought a new position in IAMGOLD in the 3rd quarter valued at about $30,000. WINTON GROUP Ltd acquired a new stake in IAMGOLD during the 2nd quarter worth approximately $52,000. Flow Traders U.S. LLC bought a new stake in shares of IAMGOLD in the third quarter valued at about $93,000. Finally, Verition Fund Management LLC acquired a new position in shares of IAMGOLD during the 3rd quarter worth approximately $114,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

IAMGOLD Company Profile

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.