Market cap of IAMGOLD Corporation [IAG] reaches 1.05B – now what?

IAMGOLD Corporation [NYSE: IAG] closed the trading session at $2.23 on 09/20/21. The day’s price range saw the stock hit a low of $2.22, while the highest price level was $2.2998. The company report on September 16, 2021 that IAMGOLD Reports Assay Results from the Lac Gamble Drilling Program on the Rouyn Gold Project, Québec; Drilling Underway on Augmitto – Cinderella Areas.

Toronto, Ontario–(Newsfile Corp. – September 16, 2021) – IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) (“IAMGOLD” or the “Company”) announces assay results from its 2021 exploration diamond drilling program completed on the Lac Gamble zone at the Rouyn Gold project (“Rouyn Project”) optioned from Yorbeau Resources Inc. (“Yorbeau”). The project is located 4 km south of Rouyn-Noranda, Québec, and approximately 45 kilometers southwest of IAMGOLD’s Westwood operation.

The Company is reporting assay results from seven (7) diamond drill holes, totaling 1,826 metres completed as part of the winter 2021 drilling program. Drilling activities are also currently progressing on the Augmitto and Cinderella areas, located approximately 1 to 3 kilometres west of the Lac Gamble zone, and results will be reported when received, validated and compiled.

The stocks have a year to date performance of -39.24 percent and weekly performance of -5.11 percent. The stock has been moved at -31.38 percent over the last six months. The stock has performed 0.90 percent around the most recent 30 days and changed -30.75 percent over the most recent 3-months.

If compared to the average trading volume of 4.83M shares, IAG reached to a volume of 9891094 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 0.12, with the Price to Sales ratio for IAG stock in the period of the last 12 months amounting to 0.85. The Price to Book ratio for the last quarter was 0.42, with the Price to Cash per share for the same quarter was set at 1.76. Price to Free Cash Flow for IAG in the course of the last twelve months was 4.36 with Quick ratio for the last quarter at 2.00.

IAG stock trade performance evaluation

IAMGOLD Corporation [IAG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.11. With this latest performance, IAG shares gained by 0.90% in over the last four-week period, additionally sinking by -31.38% over the last 6 months – not to mention a drop of -45.34% 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 42.34, with the RSI for the last a single of trading hit 41.54, and the three-weeks RSI is set at 42.02 for IAMGOLD Corporation [IAG]. The present Moving Average for the last 50 days of trading for this stock 2.48, while it was recorded at 2.34 for the last single week of trading, and 3.14 for the last 200 days.

IAMGOLD Corporation [IAG]: An insightful look at the core fundamentals

IAMGOLD Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.70.

Earnings per share (EPS) analysis for IAMGOLD Corporation [IAG] stock

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%.

IAMGOLD Corporation [IAG]: Insider Ownership positions

There are presently around $496 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 49,065,937, which is approximately 3.467% of the company’s market cap and around 1.70% of the total institutional ownership; DONALD SMITH & CO., INC., holding 40,357,534 shares of the stock with an approximate value of $90.0 million in IAG stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $45.04 million in IAG stock with ownership of nearly -8.032% of the company’s market capitalization.

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64 institutional holders increased their position in IAMGOLD Corporation [NYSE:IAG] by around 10,913,528 shares. Additionally, 58 investors decreased positions by around 18,367,756 shares, while 40 investors held positions by with 193,350,973 shares. The mentioned changes placed institutional holdings at 222,632,257 shares, according to the latest SEC report filing. IAG stock had 17 new institutional investments in for a total of 1,308,119 shares, while 18 institutional investors sold positions of 6,635,973 shares during the same period.

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