Market cap of IAMGOLD Corporation [IAG] reaches 590.57M – now what?

IAMGOLD Corporation [NYSE: IAG] closed the trading session at $1.26 on 09/07/22. The day’s price range saw the stock hit a low of $1.135, while the highest price level was $1.26. The company report on September 2, 2022 that IAMGOLD Files Final Base Shelf Prospectus.

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Toronto, Ontario–(Newsfile Corp. – September 2, 2022) – IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) (“IAMGOLD” or the “Company”) announces that it has obtained a receipt for a final short form base shelf prospectus further to its filing of a preliminary short form base shelf prospectus, previously announced on August 4, 2022. Both documents have been filed with the securities regulators in each province and territory of Canada, and a corresponding registration statement has been filed with the United States Securities and Exchange Commission. This filing replaces the previous base shelf prospectus of the Company, filed on May 15, 2020.

These filings will allow the Company, if it chooses, to make offerings of common shares, first preference shares, second preference shares, debt securities, warrants, subscription receipts, or any combination thereof, of up to US$500 million during the next 25 months in Canada and the United States. The Company renewed its base shelf prospectus to maintain financial flexibility. The net proceeds from any such offerings may be used by the Company to, among other things, fund ongoing operations and capital expenditures, including the construction and development of the Côté Gold project, reduce its level of outstanding indebtedness from time to time, fund other discretionary capital programs, and for general corporate purposes.

The stocks have a year to date performance of -59.74 percent and weekly performance of 3.28 percent. The stock has been moved at -63.05 percent over the last six months. The stock has performed -6.67 percent around the most recent 30 days and changed -43.24 percent over the most recent 3-months.

If compared to the average trading volume of 6.21M shares, IAG reached to a volume of 5658428 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about IAMGOLD Corporation [IAG]:

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 0.09, with the Price to Sales ratio for IAG stock in the period of the last 12 months amounting to 0.46. The Price to Book ratio for the last quarter was 0.27, with the Price to Cash per share for the same quarter was set at 0.97.

IAG stock trade performance evaluation

IAMGOLD Corporation [IAG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.28. With this latest performance, IAG shares dropped by -6.67% in over the last four-week period, additionally sinking by -63.05% over the last 6 months – not to mention a drop of -45.45% 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 44.65, with the RSI for the last a single of trading hit 48.22, and the three-weeks RSI is set at 42.59 for IAMGOLD Corporation [IAG]. The present Moving Average for the last 50 days of trading for this stock 1.4154, while it was recorded at 1.1800 for the last single week of trading, and 2.4767 for the last 200 days.

IAMGOLD Corporation [IAG]: An insightful look at the core 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 1.80.

IAMGOLD Corporation [IAG]: Insider Ownership positions

There are presently around $314 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 47,628,360, which is approximately 1.367% of the company’s market cap and around 1.70% of the total institutional ownership; DONALD SMITH & CO., INC., holding 40,099,242 shares of the stock with an approximate value of $50.52 million in IAG stocks shares; and KOPERNIK GLOBAL INVESTORS, LLC, currently with $37.06 million in IAG stock with ownership of nearly 179.808% 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 54 institutional holders increased their position in IAMGOLD Corporation [NYSE:IAG] by around 45,814,901 shares. Additionally, 71 investors decreased positions by around 17,765,419 shares, while 30 investors held positions by with 185,258,940 shares. The mentioned changes placed institutional holdings at 248,839,260 shares, according to the latest SEC report filing. IAG stock had 18 new institutional investments in for a total of 13,438,378 shares, while 26 institutional investors sold positions of 10,377,356 shares during the same period.


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