Every day plenty of investors look into gold related stocks and this morning, it is quite likely that those investors are possibly going to take a look into the IAMGOLD Corporation (NYSE:IAG) stock.
Trading Data
On Thursday, IAG stock gained 1.19% to $2.55 with more than 6.69 million shares, compared to its average volume of 7.13 million shares. The stock moved within a range of $2.4500 – 2.5800 after opening trade at $2.50.
Latest News
The stock has been in the middle of a sustained rally over the past week and has managed to clock gains of as much as 5% so far. In this context, it is perhaps necessary to note that there was no news about the company yesterday but it might be a good time to take a look into the news with regards to the company from back on January 25.
The company announced at the time that it was looking closely into the evolving political situation in the country of Burkina Faso, where it has considerable interests. The company controls the Essakane mine in Burkina Fasto, which is situated not too far away from the nation’s capital.
However, IAMGOLD confirmed on January 25 that the supply chains for the project and the personnel there are safe. That was a significant announcement from the company and may have come as a source of reassurance for investors. Hence, the rally in the stock over the past week.
Technical Data
IAG stock is trading below the 20-Day and 50-Day Moving averages of $2.63 and $2.87 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.88. The stock is down 10% in the past 3-month.
