IAMGOLD Corporation [IAG] is -59.74% lower this YTD. Is it still time to buy?

IAMGOLD Corporation [NYSE: IAG] gained 5.88% or 0.07 points to close at $1.26 with a heavy trading volume of 8788060 shares. The company report on October 3, 2022 that IAMGOLD Reports Essakane Mine Continues Normal Operations Following Political Developments in Burkina Faso.

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Toronto, Ontario–(Newsfile Corp. – October 3, 2022) – IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) (“IAMGOLD” or the “Company”) announces that the Company is closely monitoring the political situation in Burkina Faso. The Company has confirmed that all IAMGOLD personnel are safe and that there has been no impact to the production at the Essakane mine, which is located approximately 330 kilometres northeast of the country’s capital, Ouagadougou. IAMGOLD continues to take proactive measures to ensure the safety and security of in-country personnel and its assets and will provide updates as warranted.

It opened the trading session at $1.22, the shares rose to $1.26 and dropped to $1.19, the range by which the price of stock traded the whole day. The daily chart for IAG points out that the company has recorded -65.19% loss over the past six months. However, it is still -36.96% lower than its most recent low trading price.

If we look at the average trading volume of 5.82M shares, IAG reached to a volume of 8788060 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 0.96.

Trading performance analysis for IAG stock

IAMGOLD Corporation [IAG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 29.10. With this latest performance, IAG shares gained by 8.62% in over the last four-week period, additionally sinking by -65.19% over the last 6 months – not to mention a drop of -45.69% 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 55.26, with the RSI for the last a single of trading hit 62.82, and the three-weeks RSI is set at 50.65 for IAMGOLD Corporation [IAG]. The present Moving Average for the last 50 days of trading for this stock 1.2941, while it was recorded at 1.1280 for the last single week of trading, and 2.3015 for the last 200 days.

IAMGOLD Corporation [IAG]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at IAMGOLD Corporation [IAG]

There are presently around $313 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 November and at the time of the November reporting period, where 53 institutional holders increased their position in IAMGOLD Corporation [NYSE:IAG] by around 45,783,001 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 248,807,360 shares, according to the latest SEC report filing. IAG stock had 17 new institutional investments in for a total of 13,406,478 shares, while 26 institutional investors sold positions of 10,377,356 shares during the same period.


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