Iamgold Corp. (NYSE: IAG)’s Stock Performance and Outlook

In the last trading session, 5.13 million Iamgold Corp. (NYSE:IAG) shares changed hands as the company’s beta touched 1.66. With the company’s per share price at $2.55 changed hands at $0.1 or 4.08% during last session, the market valuation stood at $1.23B. IAG’s last price was a discount, traded about -30.98% off its 52-week high of $3.34. The share price had its 52-week low at $1.99, which suggests the last value was 21.96% up since then. When we look at Iamgold Corp.’s average trading volume, we note the 10-day average is 7.22 million shares, with the 3-month average coming to 0.76.

Iamgold Corp. (NYSE:IAG) trade information

Instantly IAG was in green as seen at the end of in last trading. With action 5.81%, the performance over the past five days has been green. The jump to weekly highs of 2.56 added 4.08% to the stock’s daily price. The company’s shares are showing year-to-date upside of 0.79%, with the 5-day performance at 5.81% in the green. However, in the 30-day time frame, Iamgold Corp. (NYSE:IAG) is 8.05% up. Looking at the short shares, we see there were 4.64 million shares sold at short interest cover period of 0.61 days.

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Iamgold Corp. (IAG) estimates and forecasts

Data shows that the Iamgold Corp. 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 10.39% over the past 6 months, a 171.43% in annual growth rate that is considerably higher than the industry average of 7.30%.

The 2024 estimates are for Iamgold Corp. earnings to increase by 144.45%.

IAG Dividends

Iamgold Corp. is expected to release its next quarterly earnings report on February 15.

Iamgold Corp. (NYSE:IAG)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.09% of Iamgold Corp. shares while 65.06% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 65.12%. There are 65.06% institutions holding the Iamgold Corp. 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 Sep 29, 2023 were VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. With 25.59 million shares estimated at $55.03 million under it, the former controlled 5.32% of total outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held about 3.54% of the shares, roughly 17.04 million shares worth around $36.65 million.

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