IAMGOLD Corporation [IAG] Stock trading around $3.06 per share: What’s Next?


IAMGOLD Corporation [NYSE: IAG] jumped around 0.03 points on Tuesday, while shares priced at $3.06 at the close of the session, up 0.99%. The company report on December 22, 2021 that IAMGOLD nomme un directeur administratif de projet pour Côté Gold et annonce un changement à la haute direction.

Toronto, Ontario–(Newsfile Corp. – 22 décembre 2021) – IAMGOLD Corporation (TSX : IMG) (NYSE : IAG) (« IAMGOLD » ou la « Société ») annonce la nomination de Jerzy Orzechowski à titre de directeur administratif de projet pour le projet en construction Côté Gold (« Côté Gold ») dans le nord-est de l’Ontario. La Société annonce également que Daniella Dimitrov assume désormais un rôle élargi dans l’équipe de la haute direction et prendra en charge la stratégie et le développement des affaires tout en continuant à exercer son rôle précédent, soit celui de chef de la direction financière et première vice-présidente.

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« Au nom du conseil d’administration et de l’équipe de la direction d’IAMGOLD, je désire souhaiter la bienvenue à Jerzy à titre de directeur administratif de projet pour Côté Gold et féliciter Daniella pour ses nouvelles responsabilités », a déclaré Gordon Stothart, président et chef de la direction d’IAMGOLD. « Il s’agit d’un moment trépidant pour notre société. Nous veillons à optimiser notre éventail d’actifs tout en faisant progresser la réalisation de Côté Gold, qui est un actif de premier ordre, à longue durée de vie et à faible coût, qui devrait produire en moyenne 316 000 onces d’or par an pour IAMGOLD selon des coûts de maintien tout inclus de 802 $ par once tout au long de la durée de vie de la mine, ce qui permettra à IAMGOLD d’atteindre son objectif de devenir un producteur d’or à marge élevée de premier plan.

IAMGOLD Corporation stock is now -2.24% down from its year-to-date (YTD) trading value. IAG Stock saw the intraday high of $3.12 and lowest of $3.005 per share. The company’s 52-week high price is 3.95, which means current price is +2.34% above from all time high which was touched on 01/04/22.

Compared to the average trading volume of 7.83M shares, IAG reached a trading volume of 5263604 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 0.12, with the Price to Sales ratio for IAG stock in the period of the last 12 months amounting to 1.21. The Price to Book ratio for the last quarter was 0.60, with the Price to Cash per share for the same quarter was set at 1.57. Price to Free Cash Flow for IAG in the course of the last twelve months was 10.46 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 -2.86. With this latest performance, IAG shares gained by 6.62% in over the last four-week period, additionally plugging by 3.73% over the last 6 months – not to mention a drop of -18.83% 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 51.81, with the RSI for the last a single of trading hit 51.02, and the three-weeks RSI is set at 52.55 for IAMGOLD Corporation [IAG]. The present Moving Average for the last 50 days of trading for this stock 3.05, while it was recorded at 3.09 for the last single week of trading, and 2.93 for the last 200 days.

IAMGOLD Corporation [IAG]: Deeper insight into the fundamentals

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]

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 $593 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 $125.24 million in IAG stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $60.47 million in IAG stock with ownership of nearly -1.191% of the company’s market capitalization.

60 institutional holders increased their position in IAMGOLD Corporation [NYSE:IAG] by around 6,153,730 shares. Additionally, 56 investors decreased positions by around 26,525,992 shares, while 46 investors held positions by with 162,940,620 shares. The mentioned changes placed institutional holdings at 195,620,342 shares, according to the latest SEC report filing. IAG stock had 23 new institutional investments in for a total of 844,609 shares, while 16 institutional investors sold positions of 12,937,470 shares during the same period.