IAMGOLD Corporation [IAG] is -21.80% lower this YTD. Is it still time to buy?


IAMGOLD Corporation [NYSE: IAG] traded at a low on 12/03/21, posting a -0.69 loss after which it closed the day’ session at $2.87. The company report on December 2, 2021 that IAMGOLD Files Technical Report for the Côté Gold Project.

Toronto, Ontario–(Newsfile Corp. – December 2, 2021) – IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) (“IAMGOLD” or the “Company”) announces that the Company has filed a technical report titled “Technical Report on the Côté Gold Project, Ontario, Canada” (the “2021 Technical Report”) prepared by SLR Consulting (Canada) Ltd. in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), as reported in the Company’s news releases dated October 18, 2021. The 2021 Technical Report is the current NI 43-101 technical report on Côté Gold, replacing prior filed technical reports, and includes a description of the Gosselin deposit initial mineral resources estimate.

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The 2021 Technical Report can be found on the Company’s website at www.iamgold.com, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.shtml.

The results of the trading session contributed to over 13092426 shares changing hands. Over the past one week, the price volatility of IAMGOLD Corporation stands at 5.64% while the volatility over the past one month is 5.07%.

The market cap for IAG stock reached $1.42 billion, with 476.80 million shares outstanding and 474.89 million shares in the current float. Compared to the average trading volume of 8.07M shares, IAG reached a trading volume of 13092426 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 1.18. The Price to Book ratio for the last quarter was 0.56, with the Price to Cash per share for the same quarter was set at 1.51. Price to Free Cash Flow for IAG in the course of the last twelve months was 10.21 with Quick ratio for the last quarter at 1.50.

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 -7.12. With this latest performance, IAG shares gained by 1.77% in over the last four-week period, additionally sinking by -22.43% over the last 6 months – not to mention a drop of -18.93% 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 40.03, with the RSI for the last a single of trading hit 29.64, and the three-weeks RSI is set at 46.00 for IAMGOLD Corporation [IAG]. The present Moving Average for the last 50 days of trading for this stock 2.84, while it was recorded at 2.99 for the last single week of trading, and 2.95 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 +15.72 and a Gross Margin at +19.34. IAMGOLD Corporation’s Net Margin is presently recorded at +3.10.

Return on Total Capital for IAG is now 6.83, given the latest momentum, and Return on Invested Capital for the company is 1.40. Return on Equity for this stock inclined to 1.67, with Return on Assets sitting at 0.99. When it comes to the capital structure of this company, IAMGOLD Corporation [IAG] has a Total Debt to Total Equity ratio set at 21.70. Additionally, IAG Total Debt to Total Capital is recorded at 17.83, with Total Debt to Total Assets ending up at 12.57. Long-Term Debt to Equity for the company is recorded at 20.65, with the Long-Term Debt to Total Capital now at 16.96.

Reflecting on the efficiency of the workforce at the company, IAMGOLD Corporation [IAG] managed to generate an average of $9,889 per employee. Receivables Turnover for the company is 19.66 with a Total Asset Turnover recorded at a value of 0.32.IAMGOLD Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 2.00.

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 36.95%.

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Insider trade positions for IAMGOLD Corporation [IAG]

There are presently around $581 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 49,081,107, which is approximately 0.031% of the company’s market cap and around 1.70% of the total institutional ownership; DONALD SMITH & CO., INC., holding 41,333,683 shares of the stock with an approximate value of $118.63 million in IAG stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $57.27 million in IAG stock with ownership of nearly -1.191% of the company’s market capitalization.

Positions in IAMGOLD Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 63 institutional holders increased their position in IAMGOLD Corporation [NYSE:IAG] by around 6,189,673 shares. Additionally, 57 investors decreased positions by around 26,526,229 shares, while 47 investors held positions by with 169,563,093 shares. The mentioned changes placed institutional holdings at 202,278,995 shares, according to the latest SEC report filing. IAG stock had 25 new institutional investments in for a total of 878,010 shares, while 16 institutional investors sold positions of 12,937,470 shares during the same period.