IAMGOLD Corporation [IAG] fell -53.99% so far this year. What now?



IAMGOLD Corporation [NYSE: IAG] stock went on an upward path that rose over 2.13% on Tuesday, amounting to a one-week price increase of more than 1.41%. The company report on July 11, 2022 that IAMGOLD Provides Notice of Second Quarter 2022 Results and Conference Call.

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Toronto, Ontario–(Newsfile Corp. – July 11, 2022) – IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) (“IAMGOLD” or the “Company”) plans to release its second quarter 2022 financial results after market hours on Wednesday, August 3, 2022. Senior management will host a conference call to discuss the operating performance and financial results on Thursday, August 4, 2022, at 8:30 a.m. ET.

Listeners may access the conference call via webcast or through the following dial-in numbers:.

Over the last 12 months, IAG stock dropped by -46.67%. The one-year IAMGOLD Corporation stock forecast points to a potential upside of 36.0. The average equity rating for IAG stock is currently 3.60, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $694.90 million, with 477.60 million shares outstanding and 477.38 million shares in the current float. Compared to the average trading volume of 9.43M shares, IAG stock reached a trading volume of 6559864 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $2.25 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 3.60. 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.

Stifel have made an estimate for IAMGOLD Corporation shares, keeping their opinion on the stock as Sell, with their previous recommendation back on May 05, 2022. The new note on the price target was released on May 05, 2022, representing the official price target for IAMGOLD Corporation stock. Previously, the target price had yet another drop from $3 to $2.25, while Raymond James kept a Underperform rating on IAG stock. On May 04, 2022, analysts decreased their price target for IAG shares from 3.50 to 2.50.

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 0.57. The Price to Book ratio for the last quarter was 0.30, with the Price to Cash per share for the same quarter was set at 1.09.

IAG Stock Performance Analysis:

IAMGOLD Corporation [IAG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.41. With this latest performance, IAG shares dropped by -29.76% in over the last four-week period, additionally sinking by -45.04% over the last 6 months – not to mention a drop of -46.67% 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 31.69, with the RSI for the last a single of trading hit 33.46, and the three-weeks RSI is set at 32.15 for IAMGOLD Corporation [IAG]. The present Moving Average for the last 50 days of trading for this stock 1.9456, while it was recorded at 1.4180 for the last single week of trading, and 2.7355 for the last 200 days.

Insight into IAMGOLD Corporation 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.

IAMGOLD Corporation [IAG] Insider Position Details

There are presently around $312 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 46,986,189, which is approximately 3.672% of the company’s market cap and around 1.70% of the total institutional ownership; DONALD SMITH & CO., INC., holding 39,960,872 shares of the stock with an approximate value of $56.34 million in IAG stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $24.56 million in IAG stock with ownership of nearly -9.203% of the company’s market capitalization.

Positions in IAMGOLD Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 64 institutional holders increased their position in IAMGOLD Corporation [NYSE:IAG] by around 26,390,868 shares. Additionally, 64 investors decreased positions by around 16,677,918 shares, while 38 investors held positions by with 177,943,893 shares. The mentioned changes placed institutional holdings at 221,012,679 shares, according to the latest SEC report filing. IAG stock had 22 new institutional investments in for a total of 7,955,555 shares, while 29 institutional investors sold positions of 8,050,416 shares during the same period.