Iamgold Corp. (NYSE: IAG): A Disaster In The Making Or A Gold Mine?

In today’s recent session, 4.72 million shares of the Iamgold Corp. (NYSE:IAG) have been traded, and its beta is 1.70. Most recently the company’s share price was $3.55, and it changed around $0.22 or 6.46% from the last close, which brings the market valuation of the company to $1.75B. IAG at last check was trading at a discount to its 52-week high of $3.39, offering almost 4.51% off that amount. The share price’s 52-week low was $1.99, which indicates that the recent value has risen by an impressive 43.94% since then. We note from Iamgold Corp.’s average daily trading volume that its 10-day average is 6.82 million shares, with the 3-month average coming to 7.82 million.

Iamgold Corp. stock received a consensus recommendation rating of Hold, based on a mean score of 2.67. If we narrow it down even further, the data shows that 1 out of 11 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 6 recommended IAG as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. Iamgold Corp. is expected to report earnings per share of $0 for the current quarter.

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Iamgold Corp. (NYSE:IAG) trade information

Instantly IAG has been showing a green trend so far today with a performance of 6.46% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently up 40.12% year-to-date, but still up 18.96% over the last five days. On the other hand, Iamgold Corp. (NYSE:IAG) is 36.35% up in the 30-day period. We can see from the shorts that 11.43 million shares have been sold at a short interest cover period of 0.99 day(s).

The consensus price target as assigned by Wall Street analysts is $2.48, which translates to bulls needing to decrease their stock price by -43.15% from its current value. Analyst projections state that IAG is forecast to be at a low of $1.65 and a high of $3.25.

Iamgold Corp. (IAG) estimates and forecasts

Iamgold Corp. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 67.22 percent over the past six months and at a -55.56% annual growth rate that is well below the industry average of 3.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -100.00% in revenue this quarter, and will report an increase of 200.00% in the next quarter. The year-over-year growth rate is expected to be 26.60%, up from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $235.87 million in revenue for the current quarter. 1 analysts expect Iamgold Corp. to make $275.09 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $200.6 million and $238.8 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 17.60%. Forecasts for the next quarter put sales growth at 15.20%.

IAG Dividends

Iamgold Corp.’s next quarterly earnings report is expected to be released around May 09 and May 13.

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

Upon looking at major shareholders, it appears that insiders hold 0.09% of Iamgold Corp. shares, and 60.80% of them are in the hands of institutional investors. The stock currently has a share float of 60.86%. Iamgold Corp. stock is held by 240 institutions, with Van Eck Associates Corporation being the largest institutional investor. By Dec 30, 2023, it held 9.71% of the shares, which is about 48.12 million shares worth $171.81 million.

Smith (Donald) & Company Inc., with 7.22% or 35.78 million shares worth $127.75 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF were the top two Mutual Funds as of Jan 30, 2024. The former held 25.45 million shares worth $90.86 million, making up 5.14% of all outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held roughly 17.54 million shares worth around $62.63 million, which represents about 3.54% of the total shares outstanding.