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IAMGOLD Corporation (NYSE: IAG) Is Likely To Grow By 25.5% Or More

During the last session, IAMGOLD Corporation (NYSE:IAG)’s traded shares were 13.8 million, with the beta value of the company hitting 1.23. At the end of the trading day, the stock’s price was $1.49, reflecting an intraday loss of -5.70% or -$0.09. The 52-week high for the IAG share is $3.77, that puts it down -153.02 from that peak though still a striking 12.08% gain since the share price plummeted to a 52-week low of $1.31. The company’s market capitalization is $620.51M, and the average intraday trading volume over the past 10 days was 6.93 million shares, and the average trade volume was 8.90 million shares over the past three months.

IAMGOLD Corporation (IAG) received a consensus recommendation of an Underweight from analysts. That translates to a mean rating of 3.50. IAG has a Sell rating from 6 analyst(s) out of 12 analysts who have looked at this stock. 4 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.02.

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IAMGOLD Corporation (NYSE:IAG) trade information

IAMGOLD Corporation (IAG) registered a -5.70% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -5.70% in intraday trading to $1.49 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is -6.29%, and it has moved by 3.47% in 30 days. Based on these gigs, the overall price performance for the year is -43.98%. The short interest in IAMGOLD Corporation (NYSE:IAG) is 31.42 million shares and it means that shorts have 4.48 day(s) to cover.

The consensus price target of analysts on Wall Street is $2.00, which implies an increase of 25.5% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.30 and $3.11 respectively. As a result, IAG is trading at a discount of -108.72% off the target high and 12.75% off the low.

IAMGOLD Corporation (IAG) estimates and forecasts

Statistics show that IAMGOLD Corporation has outperformed its competitors in share price, compared to the industry in which it operates. IAMGOLD Corporation (IAG) shares have gone down -40.87% during the last six months, with a year-to-date growth rate more than the industry average at 16.67% against 6.60. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 300.00% this quarter and then jump 125.00% in the quarter after that. In the rating firms’ projections, revenue will increase 7.30% compared to the previous financial year.

Revenue for the current quarter is expected to be $346.23 million as predicted by 2 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $306.43 million by the end of Sep 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -44.50%. While earnings are projected to return -762.90% in 2022, the next five years will return 3.00% per annum.

IAG Dividends

IAMGOLD Corporation is due to release its next quarterly earnings between May 02 and May 06. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

IAMGOLD Corporation (NYSE:IAG)’s Major holders

IAMGOLD Corporation insiders own 0.31% of total outstanding shares while institutional holders control 68.83%, with the float percentage being 69.04%. Van Eck Associates Corporation is the largest shareholder of the company, while 243 institutions own stock in it. As of Mar 30, 2022, the company held over 46.99 million shares (or 9.81% of all shares), a total value of $163.51 million in shares.

The next largest institutional holding, with 39.96 million shares, is of Smith (Donald) & Company Inc.’s that is approximately 8.34% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $139.06 million.

Also, the Mutual Funds coming in first place with the largest holdings of IAMGOLD Corporation (IAG) shares are VanEck ETF Trust-VanEck Gold Miners ETF and Vanguard Selected Value Fund. Data provided on Jun 29, 2022 indicates that VanEck ETF Trust-VanEck Gold Miners ETF owns about 25.37 million shares. This amounts to just over 5.30 percent of the company’s overall shares, with a $40.85 million market value. The same data shows that the other fund manager holds slightly less at 19.86 million, or about 4.15% of the stock, which is worth about $55.99 million.

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