Wall Street Analyst Downgrade IAMGOLD Corporation [IAG]. What else is Wall St. saying



IAMGOLD Corporation [NYSE: IAG] traded at a low on 05/02/22, posting a -1.42 loss after which it closed the day’ session at $2.78. The company report on April 14, 2022 that IAMGOLD Provides Notice of First Quarter 2022 Results and Conference Call.

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Toronto, Ontario–(Newsfile Corp. – April 14, 2022) – IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) (“IAMGOLD” or the “Company”) plans to release its first quarter 2022 financial results after market hours on Tuesday, May 3, 2022. Senior management will host a conference call to discuss the operating performance and financial results on Wednesday, May 4, 2022, at 8:30 a.m. ET. Listeners may access a live webcast of the conference call from the events section of the Company’s website at www.iamgold.com or by dialing toll free 1 (800) 319-4610 within North America or +1 (604) 638-5340 from international locations.

An online archive of the webcast will be available by accessing the Company’s website at www.iamgold.com. A telephone replay will be available for one month following the call by dialing toll free 1 (800) 319-6413 within North America or +1 (604) 638-9010 from international locations and entering the passcode: 8699.

The results of the trading session contributed to over 7202106 shares changing hands. Over the past one week, the price volatility of IAMGOLD Corporation stands at 4.67% while the volatility over the past one month is 4.60%.

The market cap for IAG stock reached $1.36 billion, with 476.80 million shares outstanding and 450.93 million shares in the current float. Compared to the average trading volume of 7.50M shares, IAG reached a trading volume of 7202106 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]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IAG shares is $3.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IAG stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

RBC Capital Mkts have made an estimate for IAMGOLD Corporation shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on April 20, 2022. While these analysts kept the previous recommendation, BMO Capital Markets dropped their target price from $4 to $2.75. The new note on the price target was released on April 18, 2022, representing the official price target for IAMGOLD Corporation stock. Previously, the target price had yet another raise from $2.75 to $3.25, while BMO Capital Markets kept a Outperform rating on IAG 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 0.59, with the Price to Cash per share for the same quarter was set at 1.13.

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 -6.08. With this latest performance, IAG shares dropped by -20.11% in over the last four-week period, additionally plugging by 0.36% over the last 6 months – not to mention a drop of -16.01% 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 30.36, with the RSI for the last a single of trading hit 24.26, and the three-weeks RSI is set at 35.79 for IAMGOLD Corporation [IAG]. The present Moving Average for the last 50 days of trading for this stock 3.29, while it was recorded at 2.83 for the last single week of trading, and 2.85 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 -7.69 and a Gross Margin at -3.94. IAMGOLD Corporation’s Net Margin is presently recorded at -22.02.

Return on Equity for this stock declined to -10.70, with Return on Assets sitting at -5.94.

IAMGOLD Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.60.

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 3.98%.

Insider trade positions for IAMGOLD Corporation [IAG]

There are presently around $587 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 45,322,134, which is approximately -7.659% of the company’s market cap and around 1.70% of the total institutional ownership; DONALD SMITH & CO., INC., holding 41,366,370 shares of the stock with an approximate value of $115.0 million in IAG stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $53.33 million in IAG stock with ownership of nearly -3.867% of the company’s market capitalization.

56 institutional holders increased their position in IAMGOLD Corporation [NYSE:IAG] by around 34,300,882 shares. Additionally, 65 investors decreased positions by around 24,831,211 shares, while 43 investors held positions by with 151,973,118 shares. The mentioned changes placed institutional holdings at 211,105,211 shares, according to the latest SEC report filing. IAG stock had 21 new institutional investments in for a total of 25,725,483 shares, while 23 institutional investors sold positions of 6,921,213 shares during the same period.