IGM Financial (OTCMKTS:IGIFF) Share Price Crosses Above 50-Day Moving Average – Here’s Why

IGM Financial Inc. (OTCMKTS:IGIFF) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $59.95 and traded as high as $63.77. IGM Financial shares last traded at $63.77, with a volume of 4,512 shares.

Analysts Set New Price Targets

Several research analysts have recently issued reports on IGIFF shares. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of IGM Financial in a research note on Friday, July 31st. Scotiabank restated a “sector perform” rating on shares of IGM Financial in a research report on Thursday, July 30th. Royal Bank Of Canada reissued a “sector perform” rating on shares of IGM Financial in a research note on Friday, July 31st. BMO Capital Markets reiterated a “market perform” rating on shares of IGM Financial in a research report on Wednesday, July 15th. Finally, TD Securities reaffirmed a “buy” rating on shares of IGM Financial in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, IGM Financial has a consensus rating of “Hold”.

IGM Financial Trading Down 1.1%

The stock’s 50-day simple moving average is $60.03 and its 200 day simple moving average is $54.80.

IGM Financial Company Profile

IGM Financial Inc is a Canada-based wealth and asset management company that provides a range of financial planning and investment solutions to individual and institutional clients. Through its wholly owned subsidiaries—IG Wealth Management, Mackenzie Investments, and Investment Planning Counsel—the firm offers advisory services, mutual funds, segregated funds, and a suite of managed portfolio solutions designed to meet diverse investor needs. IGM’s business model centers on delivering fee-based and commission-based products through a network of financial advisors and distribution partners across Canada.

The company’s flagship arm, IG Wealth Management, operates one of the largest financial advisor networks in the country, offering advice on retirement planning, tax strategies, estate and legacy planning, and insurance products.