IAMGOLD Co. (TSE:IMG – Get Free Report) (NYSE:IAG) shares crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$25.35 and traded as low as C$22.67. IAMGOLD shares last traded at C$22.98, with a volume of 2,247,861 shares.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on IMG. Bank of America lifted their price target on IAMGOLD from C$32.50 to C$38.00 in a research report on Thursday, February 26th. BMO Capital Markets upped their price objective on IAMGOLD from C$27.00 to C$32.00 in a report on Wednesday, April 22nd. Finally, National Bank Financial raised their target price on IAMGOLD from C$36.00 to C$39.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$32.07.
Check Out Our Latest Stock Analysis on IMG
IAMGOLD Price Performance
IAMGOLD (TSE:IMG – Get Free Report) (NYSE:IAG) last released its earnings results on Tuesday, May 5th. The mining company reported C$0.93 EPS for the quarter. The business had revenue of C$1.43 billion during the quarter. IAMGOLD had a net margin of 29.53% and a return on equity of 26.05%. On average, equities research analysts forecast that IAMGOLD Co. will post 1.1121076 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Daniel Racine bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of C$26.28 per share, for a total transaction of C$131,400.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at C$131,400. The trade was a ∞ increase in their position. Also, Director Renaud Adams bought 13,700 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were bought at an average cost of C$21.89 per share, for a total transaction 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 ownership of the stock. In the last 90 days, insiders purchased 33,023 shares of company stock worth $782,657. Insiders own 0.10% of the company’s stock.
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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