In the latest trading session, 1.61 million Iamgold Corp. (NYSE:IAG) shares changed hands as the company’s beta touched 1.68. With the company’s most recent per share price at $3.16 changing hands around $0.07 or 2.43% at last look, the market valuation stands at $1.56B. IAG’s current price is a discount, trading about -5.7% 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 37.03% up since then. When we look at Iamgold Corp.’s average trading volume, we note the 10-day average is 6.76 million shares, with the 3-month average coming to 7.77 million.
Iamgold Corp. (NYSE:IAG) trade information
Instantly IAG is in green as seen in intraday trades today. With action 2.76%, the performance over the past five days has been green. The jump to weekly highs of 3.19 added 2.43% to the stock’s daily price. The company’s shares are showing year-to-date upside of 25.10%, with the 5-day performance at 2.76% in the green. However, in the 30-day time frame, Iamgold Corp. (NYSE:IAG) is 16.79% up. Looking at the short shares, we see there were 13.15 million shares sold at short interest cover period of 1.52 days.
Iamgold Corp. (IAG) estimates and forecasts
Data shows that the Iamgold Corp. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 52.16% over the past 6 months, a -55.56% in annual growth rate that is considerably lower than the industry average of -0.40%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Iamgold Corp. will fall -100.00%, while the growth in revenue is estimated to hit 200.00% for the next quarter. Year-over-year growth is forecast to reach 26.60% up from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $235.87 million. 1 analysts are of the opinion that Iamgold Corp.’s revenue for the quarter ending Jun 2024 will be $275.09 million. The company’s revenue for the corresponding quarters a year ago was $200.6 million and $238.8 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 17.60%. The estimates for the next quarter sales put growth at 15.20%.
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 60.80% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 60.86%. There are 60.80% 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.
