During the last session, Iamgold Corp. (NYSE:IAG)’s traded shares were 4.56 million, with the beta value of the company hitting 1.58. At the end of the trading day, the stock’s price was $4.94, reflecting an intraday loss of -1.59% or -$0.08. The 52-week high for the IAG share is $5.31, that puts it down -7.49 from that peak though still a striking 59.72% gain since the share price plummeted to a 52-week low of $1.99. The company’s market capitalization is $2.82B, and the average intraday trading volume over the past 10 days was 8.52 million shares, and the average trade volume was 9.24 million shares over the past three months.
Iamgold Corp. (IAG) received a consensus recommendation of Hold from analysts. That translates to a mean rating of 2.75. IAG has a Sell rating from 0 analyst(s) out of 14 analysts who have looked at this stock. 9 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 5 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be 0.08.
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Iamgold Corp. (NYSE:IAG) trade information
Iamgold Corp. (IAG) registered a -1.59% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.59% in intraday trading to $4.94, hitting a weekly high. The stock’s 5-day price performance is -5.18%, and it has moved by 21.08% in 30 days. Based on these gigs, the overall price performance for the year is 100.00%. The short interest in Iamgold Corp. (NYSE:IAG) is 5.42 million shares and it means that shorts have 0.4 day(s) to cover.
The consensus price target of analysts on Wall Street is $3, which implies a decrease of -64.67% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.65 and $5 respectively. As a result, IAG is trading at a discount of -1.21% off the target high and 66.6% off the low.
Iamgold Corp. (IAG) estimates and forecasts
Statistics show that Iamgold Corp. has outperformed its competitors in share price, compared to the industry in which it operates. Iamgold Corp. (IAG) shares have gone up 80.29% during the last six months, with a year-to-date growth rate more than the industry average at 333.33% against 21.20. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 900.00% this quarter and then jump 50.00% in the quarter after that. In the rating firms’ projections, revenue will increase 61.60% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 351.86M as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to 509.75M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 233.75M and 297.6M respectively. In this case, analysts expect current quarter sales to grow by 50.50% and then jump by 71.30% in the coming quarter.
While earnings are projected to return 363.85% in 2024, the next five years will return 40.30% per annum.
IAG Dividends
Iamgold Corp. is due to release its next quarterly earnings on 2024-Nov-07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. The average dividend yield of the company for the last 5 years is 2.05%.
Iamgold Corp. (NYSE:IAG)’s Major holders
Iamgold Corp. insiders own 0.10% of total outstanding shares while institutional holders control 64.64%, with the float percentage being 64.70%. VAN ECK ASSOCIATES CORP is the largest shareholder of the company, while 262.0 institutions own stock in it. As of 2024-06-30, the company held over 48.63 million shares (or 9.9382% of all shares), a total value of $182.36 million in shares.
The next largest institutional holding, with 34.89 million shares, is of DONALD SMITH & CO., INC.’s that is approximately 7.1307% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $130.84 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 Jul 31, 2024 indicates that VanEck ETF Trust-VanEck Gold Miners ETF owns about 22.35 shares. This amounts to just over 3.92 percent of the company’s overall shares, with a $110.43 million market value. The same data shows that the other fund manager holds slightly less at 21.08, or about 3.70% of the stock, which is worth about $104.12 million.
