Weak fundamental momentum pushes IAMGOLD Corporation (IAG) lower – Marketing Sentinel

Weak fundamental momentum pushes IAMGOLD Corporation (IAG) lower

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The consensus among analysts is that IAMGOLD Corporation (IAG) is a Hold stock at the moment, with a recommendation rating of 2.2. None of the analysts rate the stock as a Sell, while none rate it as Overweight. 8 out of 12 have rated it as a Hold, with 3 advising it as a Buy. 1 have rated the stock as Underweight.

IAMGOLD Corporation (NYSE:IAG) trade information

Wall Street analysts have a consensus price target for the stock at $4.21, which means that the shares value could jump 29.94% from the levels at last check today. The projected low price target is $3.25 while the price target rests at a high of $5.98. In that case, then, we find that the latest price level in todays session is +84.57% off the targeted high while a plunge would see the stock lose 0.31% from the levels at last check today.

IAMGOLD Corporation (IAG) estimates and forecasts

If we evaluate the companys growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +15.3% over the past 5 years. Earnings growth for 2021 is a modest +110.1% while over the next 5 years, the companys earnings are expected to increase by 3%.

IAMGOLD Corporation (NYSE:IAG)s Major holders

Insiders own 0.42% of the company shares, while shares held by institutions stand at 66.39% with a share float percentage of 66.66%. Investors are also buoyed by the number of investors in a company, with IAMGOLD Corporation having a total of 253 institutions that hold shares in the company. The top two institutional holders are Van Eck Associates Corporation with over 51.21 Million shares worth more than $187.95 Million. As of December 30, 2020, Van Eck Associates Corporation held 10.75% of shares outstanding.

The other major institutional holder is Smith (Donald) & Company Inc., with the holding of over 39.64 Million shares as of December 30, 2020. The firms total holdings are worth over $145.47 Million and represent 8.32% of shares outstanding.

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Also the top two Mutual Funds that are holding company’s shares are VanEck Vectors ETF Tr-Gold Miners ETF and VanEck Vectors ETF Tr-Junior Gold Miners ETF. As of March 30, 2021, the former fund manager holds about 4.89% shares in the company for having 23291393 shares of worth $69.41 Million while later fund manager owns 20.76 Million shares of worth $61.85 Million as of March 30, 2021, which makes it owner of about 4.36% of company’s outstanding stock.

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