IAMGOLD (TSE:IMG) Share Price Breaks Below Two Hundred Day Moving Average – Time to Sell?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$24.76 and traded as low as C$23.98. IAMGOLD shares last traded at C$24.24, with a volume of 2,311,522 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Jefferies Financial Group raised IAMGOLD to a “strong-buy” rating in a report on Thursday, August 20th. National Bank Financial raised their price objective on IAMGOLD from C$32.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$36.20.

IAMGOLD Stock Performance

The firm’s fifty day moving average is C$27.28 and its 200 day moving average is C$24.76. The firm has a market capitalization of C$14.60 billion, a price-to-earnings ratio of 12.91, a PEG ratio of -0.28 and a beta of 2.20. The company has a debt-to-equity ratio of 12.27, a current ratio of 1.71 and a quick ratio of 1.19.

IAMGOLD (TSE:IMG) (NYSE:IAG) last issued its earnings results on Thursday, August 6th. The mining company reported C$0.60 earnings per share for the quarter. The company had revenue of C$1.22 billion for the quarter. IAMGOLD had a return on equity of 28.08% and a net margin of 31.46%. On average, analysts predict that IAMGOLD Co. will post 1.11 EPS for the current fiscal year.

IAMGOLD Company Profile

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.