IAMGOLD Corporation [NYSE: IAG] stock went on a downward path that fall over -0.60% on Tuesday, amounting to a one-week price increase of more than 18.57%. The company report on July 21, 2022 that IAMGOLD Publishes 2021 Sustainability Report & Named as One of the Best 50 Corporate Citizens in Canada.
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Toronto, Ontario–(Newsfile Corp. – July 21, 2022) – IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) (“IAMGOLD” or the “Company”) today published its 2021 Sustainability Report (the “Report”) highlighting the Company’s progress and achievements across a range of Environmental, Social and Governance (“ESG”) practices. The Company is also proud to announce that it has been named as one of the Corporate Knights’ Canada’s Best 50 Corporate Citizens of 2022, ranking as one of the top 50 companies in Canada for corporate citizenship.
“This is the 15th year that IAMGOLD has publicly reported on sustainability topics that are most material to our stakeholders, partners and to our business,” said Maryse Bélanger, Chair and Interim President and CEO of IAMGOLD. “This well-established history of sustainability reporting underscores the steadfast commitment of the organization and its leadership to operate in a sustainable and responsible manner. This includes maintaining and augmenting our strong health and safety culture, fulfilling our commitments to our local communities and partners, and continuing to remain strong stewards of the environment.”.
Over the last 12 months, IAG stock dropped by -38.75%. The one-year IAMGOLD Corporation stock forecast points to a potential upside of 34.13. The average equity rating for IAG stock is currently 3.50, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $691.31 million, with 477.60 million shares outstanding and 477.38 million shares in the current float. Compared to the average trading volume of 8.96M shares, IAG stock reached a trading volume of 7951621 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 $2.52 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 3.50. 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 0.11, 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 0.35, with the Price to Cash per share for the same quarter was set at 1.26.
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 18.57. With this latest performance, IAG shares gained by 1.84% in over the last four-week period, additionally sinking by -31.40% over the last 6 months – not to mention a drop of -38.75% 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 53.88, with the RSI for the last a single of trading hit 64.47, and the three-weeks RSI is set at 47.50 for IAMGOLD Corporation [IAG]. The present Moving Average for the last 50 days of trading for this stock 1.8216, while it was recorded at 1.6040 for the last single week of trading, and 2.6878 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.
IAG Stock EPS
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 Position Details
There are presently around $374 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 $66.33 million in IAG stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $28.91 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 60 institutional holders increased their position in IAMGOLD Corporation [NYSE:IAG] by around 29,886,586 shares. Additionally, 67 investors decreased positions by around 16,643,456 shares, while 35 investors held positions by with 178,726,274 shares. The mentioned changes placed institutional holdings at 225,256,316 shares, according to the latest SEC report filing. IAG stock had 19 new institutional investments in for a total of 7,795,385 shares, while 29 institutional investors sold positions of 7,860,369 shares during the same period.