In today’s recent session, 1.17 million shares of the Iamgold Corp. (NYSE:IAG) have been traded, and its beta is 1.60. Most recently the company’s share price was $4.50, and it changed around -$0.08 or -1.72% from the last close, which brings the market valuation of the company to $2.57B. IAG at last check was trading at a discount to its 52-week high of $5.60, offering almost -24.44% off that amount. The share price’s 52-week low was $2.11, which indicates that the recent value has risen by an impressive 53.11% since then. We note from Iamgold Corp.’s average daily trading volume that its 10-day average is 10.2 million shares, with the 3-month average coming to 9.45 million.
Iamgold Corp. stock received a consensus recommendation rating of Buy, based on a mean score of 2.75. If we narrow it down even further, the data shows that 0 out of 13 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 6 recommended IAG as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Iamgold Corp. is expected to report earnings per share of 0.08 for the current quarter.
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Iamgold Corp. (NYSE:IAG) trade information
Instantly IAG has been showing red trend so far today with a performance of -1.72% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 5.27 on recent trading dayincreased the stock’s daily price by 14.61%. The company’s shares are currently up 77.92% year-to-date, but still down -15.39% over the last five days. On the other hand, Iamgold Corp. (NYSE:IAG) is -7.38% down in the 30-day period. We can see from the shorts that 4.54 million shares have been sold at a short interest cover period of 0.76 day(s).
The consensus price target as assigned by Wall Street analysts is $3.88, which translates to bulls needing to decrease their stock price by -15.98% from its current value. Analyst projections state that IAG is forecast to be at a low of $2.25 and a high of $6.4.
Iamgold Corp. (IAG) estimates and forecasts
Iamgold Corp. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 24.35 percent over the past six months and at a 444.44% annual growth rate that is well above the industry average of 20.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 900.00% in revenue this quarter, and will report an increase of 50.00% in the next quarter. The year-over-year growth rate is expected to be 63.50%, up from the previous year.
Consensus estimates provided by 1 financial analysts predict the company will bring in an average of 437.87M in revenue for the current quarter. 1 analysts expect Iamgold Corp. to make 526.07M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 233.75M and 297.6M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 87.30%. Forecasts for the next quarter put sales growth at 76.80%.
Iamgold Corp. earnings are expected to increase by 407.71% in 2024, but the outlook is positive 40.30% per year for the next five years.
IAG Dividends
Iamgold Corp.’s next quarterly earnings report is expected to be released on 2024-Nov-07. The average dividend yield for the past five years averaged 2.05 per year.
Iamgold Corp. (NYSE:IAG)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.09% of Iamgold Corp. shares, and 64.64% of them are in the hands of institutional investors. The stock currently has a share float of 64.71%. Iamgold Corp. stock is held by 263.0 institutions, with VAN ECK ASSOCIATES CORP being the largest institutional investor. By 2024-06-30, it held 9.9382% of the shares, which is about 48.63 million shares worth $182.36 million.
DONALD SMITH & CO., INC., with 7.1307% or 34.89 million shares worth $130.84 million as of 2024-06-30, 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 Sep 30, 2024. The former held 26.1 shares worth $117.35 million, making up 4.57% of all outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held roughly 21.37 shares worth around $96.06 million, which represents about 3.74% of the total shares outstanding.
