In the latest trading session,, 5.24 million Iamgold Corp. (NYSE:IAG) shares changed hands as the company’s beta touched 1.58. With the company’s most recent per share price at $5.17 changing hands around $0.05 or 0.98% at last look, the market valuation stands at $2.57B. IAG’s current price is a discount, trading about -0.19% off its 52-week high of $5.18. The share price had its 52-week low at $1.99, which suggests the last value was 61.51% up since then. When we look at Iamgold Corp.’s average trading volume, we note the 10-day average is 11.01 million shares, with the 3-month average coming to 9.73 million.
Analysts gave the Iamgold Corp. (IAG) stock a consensus recommendation rating of Hold, calculated at a mean rating of 2.67. If we narrow down to specifics, the data shows that 0 out of 14 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 9 recommended IAG as a Hold, 5 felt it is a Buy and 0 rated the stock as Underweight. Iamgold Corp.’s EPS for the current quarter is expected to be 0.08.
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Iamgold Corp. (NYSE:IAG) trade information
Instantly IAG is in green as seen in intraday trades today. With action 6.16%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 104.35%, with the 5-day performance at 6.16% in the green. However, in the 30-day time frame, Iamgold Corp. (NYSE:IAG) is 26.72% up. Looking at the short shares, we see there were 5.42 million shares sold at short interest cover period of 0.48 days.
The consensus price target for the stock as assigned by Wall Street analysts is 3, meaning bulls need a downside of -72.33% from its recent market value. According to analyst projections, IAG’s forecast low is 1.65 with 5 as the target high. To hit the forecast high, the stock’s price needs a 3.29% surge from its current level, while the stock would need to tank 68.09% for it to hit the projected low.
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 101.17% over the past 6 months, a 333.33% in annual growth rate that is considerably higher than the industry average of 21.10%. Year-over-year growth is forecast to reach 61.00% up from the last financial year.
Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of 351.86M. 1 analysts are of the opinion that Iamgold Corp.’s revenue for the current quarter will be 509.75M. The company’s revenue for the corresponding quarters a year ago was 233.75M and 297.6M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 50.50%. The estimates for the next quarter sales put growth at 71.30%.
The 2024 estimates are for Iamgold Corp. earnings to increase by 348.56%, but the outlook for the next 5-year period is at 40.30% per year.
IAG Dividends
Iamgold Corp. is expected to release its next quarterly earnings report in September. During the past 5 years, the average dividend yield was 2.05 per year.
Iamgold Corp. (NYSE:IAG)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.10% of Iamgold Corp. shares while 64.33% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 64.39%. There are 64.33% institutions holding the Iamgold Corp. stock share, with VAN ECK ASSOCIATES CORP the top institutional holder. As of 2024-03-31, the company held 10.6383% of the shares, roughly 52.05 million IAG shares worth $173.34 million.
DONALD SMITH & CO., INC. holds the second largest percentage of outstanding shares, with 7.3732% or 36.08 million shares worth $120.14 million as of 2024-03-31.
Among Mutual Funds, the top two as of Jul 31, 2024 were VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF . With 22.35 shares estimated at $115.71 million under it, the former controlled 3.93% of total outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held about 3.70% of the shares, roughly 21.08 shares worth around $109.09 million.
