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IAMGOLD Corporation (NYSE:IAG) Jumps 2.65%, But Additional Rally May Be Imminent

In last trading session, IAMGOLD Corporation (NYSE:IAG) saw 5.02 million shares changing hands with its beta currently measuring 1.32. Company’s recent per share price level of $1.16 trading at $0.03 or 2.65% at ring of the bell on the day assigns it a market valuation of $564.79M. That closing price of IAG’s stock is at a discount of -225.0% from its 52-week high price of $3.77 and is indicating a premium of 3.45% from its 52-week low price of $1.12. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 5.18 million shares which gives us an average trading volume of 5.43 million if we extend that period to 3-months.

IAMGOLD Corporation (NYSE:IAG) trade information

Upright in the green during last session for gaining 2.65%, in the last five days IAG remained trading in the red while hitting it’s week-highest on Thursday, 09/15/22 when the stock touched $1.16 price level, adding 11.79% to its value on the day. IAMGOLD Corporation’s shares saw a change of -62.94% in year-to-date performance and have moved -9.38% in past 5-day. IAMGOLD Corporation (NYSE:IAG) showed a performance of -7.20% in past 30-days. Number of shares sold short was 31.42 million shares which calculate 4.48 days to cover the short interests.

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IAMGOLD Corporation (IAG) estimates and forecasts

Statistics highlight that IAMGOLD Corporation is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -65.68% of value to its shares in past 6 months, showing an annual growth rate of -83.33% while that of industry is -1.00. Apart from that, the company came lowering its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 300.00% in the current quarter and calculating 125.00% increase in the next quarter. This year revenue growth is estimated to rise 7.30% from the last financial year’s standing.

2 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $346.23 million for the same. And 2 analysts are in estimates of company making revenue of $306.43 million in the next quarter that will end on Sep 2022.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -44.50% during past 5 years.

IAG Dividends

IAMGOLD Corporation is more likely to be releasing its next quarterly report between May 02 and May 06 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

IAMGOLD Corporation (NYSE:IAG)’s Major holders

Insiders are in possession of 0.31% of company’s total shares while institution are holding 68.83 percent of that, with stock having share float percentage of 69.04%. Investors also watch the number of corporate investors in a company very closely, which is 68.83% institutions for IAMGOLD Corporation that are currently holding shares of the company. Van Eck Associates Corporation is the top institutional holder at IAG for having 46.99 million shares of worth $163.51 million. And as of Mar 30, 2022, it was holding 9.81% of the company’s outstanding shares.

The second largest institutional holder is Smith (Donald) & Company Inc., which was holding about 39.96 million shares on Mar 30, 2022. The number of shares represents firm’s hold over 8.34% of outstanding shares, having a total worth of $139.06 million.

On the other hand, VanEck ETF Trust-VanEck Gold Miners ETF and Vanguard Selected Value Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 25.37 million shares of worth $40.85 million or 5.30% of the total outstanding shares. The later fund manager was in possession of 19.86 million shares on Apr 29, 2022, making its stake of worth around $55.99 million in the company or a holder of 4.15% of company’s stock.

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