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Stock Performance And Forecast For IAMGOLD Corporation

In the last trading session, 6.85 million IAMGOLD Corporation (NYSE:IAG) shares changed hands as the company’s beta touched 1.47. With the company’s per share price at $2.56 changed hands at $0.17 or 7.11% during last session, the market valuation stood at $1.15B. IAG’s last price was a discount, traded about -30.47% off its 52-week high of $3.34. The share price had its 52-week low at $0.92, which suggests the last value was 64.06% up since then. When we look at IAMGOLD Corporation’s average trading volume, we note the 10-day average is 3.21 million shares, with the 3-month average coming to 2.92 million.

Analysts gave the IAMGOLD Corporation (IAG) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.70. If we narrow down to specifics, the data shows that 2 out of 13 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 7 recommended IAG as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. IAMGOLD Corporation’s EPS for the current quarter is expected to be $0.

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IAMGOLD Corporation (NYSE:IAG) trade information

Instantly IAG was in green as seen at the end of in last trading. With action 16.89%, the performance over the past five days has been green. The jump to weekly highs of 2.59 on Friday, 09/15/23 added 7.11% to the stock’s daily price. The company’s shares are showing year-to-date downside of -0.78%, with the 5-day performance at 16.89% in the green. However, in the 30-day time frame, IAMGOLD Corporation (NYSE:IAG) is 17.97% up. Looking at the short shares, we see there were 8.49 million shares sold at short interest cover period of 2.94 days.

The consensus price target for the stock as assigned by Wall Street analysts is $3.25, meaning bulls need an upside of 21.23% from its current market value. According to analyst projections, IAG’s forecast low is $2.50 with $4.10 as the target high. To hit the forecast high, the stock’s price needs a -60.16% plunge from its current level, while the stock would need to tank 2.34% for it to hit the projected low.

IAMGOLD Corporation (IAG) estimates and forecasts

Data shows that the IAMGOLD Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 8.47% over the past 6 months, a 157.14% in annual growth rate that is considerably higher than the industry average of 19.10%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for IAMGOLD Corporation will rise 100.00%, while the growth in revenue is estimated to hit 100.00% for the next quarter. Year-over-year growth is forecast to reach -2.80% down from the last financial year.

Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $239.99 million. 2 analysts are of the opinion that IAMGOLD Corporation’s revenue for the quarter ending Dec 2023 will be $237.13 million. The company’s revenue for the corresponding quarters a year ago was $297.85 million and $207.2 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -19.40%. The estimates for the next quarter sales put growth at 14.40%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -16.00%. The 2023 estimates are for IAMGOLD Corporation earnings to increase by 38.70%.

IAG Dividends

IAMGOLD Corporation is expected to release its next quarterly earnings report in October.

IAMGOLD Corporation (NYSE:IAG)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.07% of IAMGOLD Corporation shares while 67.84% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 67.89%. There are 67.84% institutions holding the IAMGOLD Corporation stock share, with Van Eck Associates Corporation the top institutional holder. As of Jun 29, 2023, the company held 9.35% of the shares, roughly 44.97 million IAG shares worth $118.27 million.

Smith (Donald) & Company Inc. holds the second largest percentage of outstanding shares, with 6.52% or 31.38 million shares worth $82.52 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Aug 30, 2023 were VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. With 25.79 million shares estimated at $63.45 million under it, the former controlled 5.36% of total outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held about 3.43% of the shares, roughly 16.49 million shares worth around $40.56 million.

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