IAMGOLD Corporation [IAG] moved down -1.85: Why It’s Important

IAMGOLD Corporation [NYSE: IAG] traded at a low on 09/26/22, posting a -1.85 loss after which it closed the day’ session at $0.99. The company report on September 16, 2022 that IAMGOLD Announces Change to Management Team.

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Toronto, Ontario–(Newsfile Corp. – September 16, 2022) – IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) (“IAMGOLD” or the “Company”) today announced the departure of Daniella Dimitrov, Chief Financial Officer and Executive Vice President, Strategy & Corporate Development. The Company’s current Vice President, Finance, Mr. Maarten Theunissen has been appointed Interim Chief Financial Officer, and a search is underway for a permanent CFO.

Maryse Bélanger, Chair of the Board and Interim President and CEO, said: “We would like to thank Daniella for her commitment and dedication to IAMGOLD and wish her the very best in the future. Maarten is an extremely capable and experienced finance professional and I am looking forward to working directly with him as we continue to advance the financing plan for Côté.”.

The results of the trading session contributed to over 30392567 shares changing hands. Over the past one week, the price volatility of IAMGOLD Corporation stands at 9.71% while the volatility over the past one month is 7.87%.

The market cap for IAG stock reached $529.81 million, with 478.90 million shares outstanding and 477.52 million shares in the current float. Compared to the average trading volume of 5.41M shares, IAG reached a trading volume of 30392567 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]?

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 0.41. The Price to Book ratio for the last quarter was 0.21, with the Price to Cash per share for the same quarter was set at 0.85.

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 -18.07. With this latest performance, IAG shares dropped by -28.17% in over the last four-week period, additionally sinking by -71.68% over the last 6 months – not to mention a drop of -54.94% 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 31.07, with the RSI for the last a single of trading hit 25.76, and the three-weeks RSI is set at 33.90 for IAMGOLD Corporation [IAG]. The present Moving Average for the last 50 days of trading for this stock 1.3318, while it was recorded at 1.0843 for the last single week of trading, and 2.3553 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 1.10 and a Current Ratio set at 1.80.

Insider trade positions for IAMGOLD Corporation [IAG]

There are presently around $247 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 $39.74 million in IAG stocks shares; and KOPERNIK GLOBAL INVESTORS, LLC, currently with $29.15 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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