IAMGOLD Corporation [IAG] Stock trading around $3.40 per share: What’s Next?

IAMGOLD Corporation [NYSE: IAG] jumped around 0.09 points on Thursday, while shares priced at $3.40 at the close of the session, up 2.72%. The company report on January 22, 2021 that IAMGOLD Reports Additional Positive Results from Its Resource Delineation Drilling Program on the Gosselin Zone – Côté Gold Project, Ontario.

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Toronto, Ontario–(Newsfile Corp. – January 21, 2021) – IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) (“IAMGOLD” or the “Company”) is pleased to announce assay results from its delineation diamond drilling program at the Gosselin Zone discovery, located approximately 1.5 kilometres northeast of the Côté Gold Project (“Côté”, “Project”). The Gosselin delineation drilling program is being undertaken as part of the Côté Gold Joint Venture Project, a 70:30 joint venture between IAMGOLD and Sumitomo Metal Mining Co., Ltd. (“SMM”). Côté, located 125 km southwest of Timmins and 175 km north of Sudbury, Ontario, Canada, is currently under construction with first gold production anticipated in the second half of 2023 (see news release dated July 21, 2020).

Since the fourth quarter of 2019, a total of thirty-three (33) diamond drill holes totaling 13,735 metres were completed as part of the resource delineation drilling program. The drill holes were variably completed from collar positions located on either lake ice, or on a floating barge deployed in Three Ducks Lake and from land based drill pads on the north shore of Three Ducks Lake or on the Young-Shannon peninsula.

IAMGOLD Corporation stock is now -7.36% down from its year-to-date (YTD) trading value. IAG Stock saw the intraday high of $3.49 and lowest of $3.31 per share. The company’s 52-week high price is 5.35, which means current price is +4.62% above from all time high which was touched on 01/05/21.

Compared to the average trading volume of 5.20M shares, IAG reached a trading volume of 6059027 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about IAMGOLD Corporation [IAG]?

Desjardins have made an estimate for IAMGOLD Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 09, 2020. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $6.25 to $4.40. The new note on the price target was released on August 07, 2020, representing the official price target for IAMGOLD Corporation stock.

The Average True Range (ATR) for IAMGOLD Corporation is set at 0.15, with the Price to Sales ratio for IAG stock in the period of the last 12 months amounting to 1.35. The Price to Book ratio for the last quarter was 0.69, with the Price to Cash per share for the same quarter was set at 1.90. Price to Free Cash Flow for IAG in the course of the last twelve months was 5.46 with Quick ratio for the last quarter at 3.30.

How has IAG stock performed recently?

IAMGOLD Corporation [IAG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.16. With this latest performance, IAG shares dropped by -3.95% in over the last four-week period, additionally sinking by -32.27% over the last 6 months – not to mention a rise of 13.33% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IAG stock in for the last two-week period is set at 45.67, with the RSI for the last a single of trading hit 45.76, and the three-weeks RSI is set at 45.98 for IAMGOLD Corporation [IAG]. The present Moving Average for the last 50 days of trading for this stock 3.51, while it was recorded at 3.40 for the last single week of trading, and 3.84 for the last 200 days.

IAMGOLD Corporation [IAG]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and IAMGOLD Corporation [IAG] shares currently have an operating margin of -1.45 and a Gross Margin at +2.98. IAMGOLD Corporation’s Net Margin is presently recorded at -35.04.

Return on Total Capital for IAG is now -0.50, given the latest momentum, and Return on Invested Capital for the company is -12.52. Return on Equity for this stock declined to -14.62, with Return on Assets sitting at -9.28. When it comes to the capital structure of this company, IAMGOLD Corporation [IAG] has a Total Debt to Total Equity ratio set at 19.92. Additionally, IAG Total Debt to Total Capital is recorded at 16.61, with Total Debt to Total Assets ending up at 11.94. Long-Term Debt to Equity for the company is recorded at 19.15, with the Long-Term Debt to Total Capital now at 15.97.

Reflecting on the efficiency of the workforce at the company, IAMGOLD Corporation [IAG] managed to generate an average of -$102,511 per employee. Receivables Turnover for the company is 18.48 with a Total Asset Turnover recorded at a value of 0.26.IAMGOLD Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.30 and a Current Ratio set at 4.40.

Earnings analysis for IAMGOLD Corporation [IAG]

With the latest financial reports released by the company, IAMGOLD Corporation posted 0.01/share EPS, while the average EPS was predicted by analysts to be reported at -0.02/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 150.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IAG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for IAMGOLD Corporation go to 3.00%.

Insider trade positions for IAMGOLD Corporation [IAG]

There are presently around $831 million, or 76.80% of IAG stock, in the hands of institutional investors. The top three institutional holders of IAG stocks are: VAN ECK ASSOCIATES CORP with ownership of 48,586,756, which is approximately 4.185% of the company’s market cap and around 1.70% of the total institutional ownership; DONALD SMITH & CO., INC., holding 37,065,829 shares of the stock with an approximate value of $126.02 million in IAG stocks shares; and RUFFER LLP, currently with $84.73 million in IAG stock with ownership of nearly -5.537% of the company’s market capitalization.

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Positions in IAMGOLD Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 64 institutional holders increased their position in IAMGOLD Corporation [NYSE:IAG] by around 19,734,060 shares. Additionally, 68 investors decreased positions by around 25,348,710 shares, while 29 investors held positions by with 199,396,692 shares. The mentioned changes placed institutional holdings at 244,479,462 shares, according to the latest SEC report filing. IAG stock had 24 new institutional investments in for a total of 2,693,364 shares, while 24 institutional investors sold positions of 4,277,069 shares during the same period.

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