IAMGOLD Corp (IMG) Stock Price Down 6.9% Following Insider Selling
IAMGOLD Corp (TSE:IMG) (NYSE:IAG) shares fell 6.9% during trading on Friday after an insider sold shares in the company. The stock traded as low as C$7.71 and last traded at C$7.72. 1,842,282 shares changed hands during trading, an increase of 17% from the average session volume of 1,570,120 shares. The stock had previously closed at C$8.29.
Specifically, insider Craig Stephen Macdougall sold 14,000 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of C$8.27, for a total transaction of C$115,780.00.
IMG has been the topic of several analyst reports. Canaccord Genuity cut their price objective on shares of IAMGOLD Corp from C$10.00 to C$9.75 in a report on Wednesday, September 6th. CIBC increased their price objective on shares of IAMGOLD Corp from C$5.00 to C$5.75 in a report on Wednesday, June 7th. TD Securities increased their price objective on shares of IAMGOLD Corp from C$8.00 to C$8.50 and gave the company a “buy” rating in a report on Wednesday, June 7th. BMO Capital Markets restated a “market perform” rating and issued a C$5.00 price objective on shares of IAMGOLD Corp in a report on Wednesday, June 7th. Finally, Raymond James Financial, Inc. increased their price objective on shares of IAMGOLD Corp to C$9.00 and gave the company a “market perform” rating in a report on Friday, September 8th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of C$8.22.
The firm has a 50 day moving average of $7.60 and a 200-day moving average of $6.35. The stock has a market cap of $3.55 billion and a P/E ratio of 6.96.
IAMGOLD Corp Company Profile
IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.
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