During the last session, Iamgold Corp. (NYSE:IAG)’s traded shares were 8.75 million, with the beta value of the company hitting 1.72. At the end of the trading day, the stock’s price was $3.60, reflecting an intraday loss of -1.37% or -$0.05. The 52-week high for the IAG share is $3.70, that puts it down -2.78 from that peak though still a striking 44.72% gain since the share price plummeted to a 52-week low of $1.99. The company’s market capitalization is $1.78B, and the average intraday trading volume over the past 10 days was 8.71 million shares, and the average trade volume was 8.15 million shares over the past three months.
Iamgold Corp. (NYSE:IAG) trade information
Iamgold Corp. (IAG) registered a -1.37% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -1.37% in intraday trading to $3.60, hitting a weekly high. The stock’s 5-day price performance is 12.85%, and it has moved by 27.21% in 30 days. Based on these gigs, the overall price performance for the year is 27.21%. The short interest in Iamgold Corp. (NYSE:IAG) is 11.43 million shares and it means that shorts have 0.99 day(s) to cover.
Iamgold Corp. (IAG) estimates and forecasts
Statistics show that Iamgold Corp. has underperformed its competitors in share price, compared to the industry in which it operates. Iamgold Corp. (IAG) shares have gone up 67.44% during the last six months, with a year-to-date growth rate less than the industry average at -55.56% against 3.00. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -100.00% this quarter and then jump 200.00% in the quarter after that. In the rating firms’ projections, revenue will increase 27.20% compared to the previous financial year.
Revenue for the current quarter is expected to be $235.87 million as predicted by 2 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $275.09 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $200.6 million and $238.8 million respectively. In this case, analysts expect current quarter sales to grow by 17.60% and then jump by 15.20% in the coming quarter.
While earnings are projected to return 16.33% in 2024.
IAG Dividends
Iamgold Corp. is due to release its next quarterly earnings between May 09 and May 13. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Iamgold Corp. (NYSE:IAG)’s Major holders
Iamgold Corp. insiders own 0.09% of total outstanding shares while institutional holders control 60.80%, with the float percentage being 60.86%. Van Eck Associates Corporation is the largest shareholder of the company, while 240 institutions own stock in it. As of Jun 29, 2023, the company held over 44.97 million shares (or 9.35% of all shares), a total value of $118.27 million in shares.
The next largest institutional holding, with 31.38 million shares, is of Smith (Donald) & Company Inc.’s that is approximately 6.52% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $82.52 million.
Also, the Mutual Funds coming in first place with the largest holdings of Iamgold Corp. (IAG) shares are VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. Data provided on Sep 29, 2023 indicates that VanEck ETF Trust-VanEck Gold Miners ETF owns about 25.59 million shares. This amounts to just over 5.32 percent of the company’s overall shares, with a $55.03 million market value. The same data shows that the other fund manager holds slightly less at 17.04 million, or about 3.54% of the stock, which is worth about $36.65 million.
