Market Analysts see IAMGOLD Corporation [IAG] falling to $1.65. Time to buy?

IAMGOLD Corporation [NYSE: IAG] jumped around 0.1 points on Monday, while shares priced at $1.60 at the close of the session, up 6.67%. The company report on October 31, 2022 that IAMGOLD Provides Notice of Third Quarter 2022 Results and Conference Call.

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Toronto, Ontario–(Newsfile Corp. – October 31, 2022) – IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) (“IAMGOLD” or the “Company”) plans to release its third quarter 2022 financial results after market hours on Tuesday, November 8, 2022. Senior management will host a conference call to discuss the operating performance and financial results on Wednesday, November 9, 2022, at 8:30 a.m. ET.

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

IAMGOLD Corporation stock is now -48.88% down from its year-to-date (YTD) trading value. IAG Stock saw the intraday high of $1.60 and lowest of $1.495 per share. The company’s 52-week high price is 3.77, which means current price is +73.89% above from all time high which was touched on 04/13/22.

Compared to the average trading volume of 5.44M shares, IAG reached a trading volume of 6997062 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]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IAG shares is $1.67 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 3.40. 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.

BofA Securities have made an estimate for IAMGOLD Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 19, 2022. The new note on the price target was released on May 05, 2022, representing the official price target for IAMGOLD Corporation stock. On May 04, 2022, analysts decreased their price target for IAG shares from 3 to 2.25.

The Average True Range (ATR) for IAMGOLD Corporation is set at 0.10, with the Price to Sales ratio for IAG stock in the period of the last 12 months amounting to 0.59. The Price to Book ratio for the last quarter was 0.34, with the Price to Cash per share for the same quarter was set at 0.96.

How has IAG stock performed recently?

IAMGOLD Corporation [IAG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.59. With this latest performance, IAG shares gained by 44.14% in over the last four-week period, additionally sinking by -23.44% over the last 6 months – not to mention a drop of -47.19% 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 67.26, with the RSI for the last a single of trading hit 71.17, and the three-weeks RSI is set at 63.25 for IAMGOLD Corporation [IAG]. The present Moving Average for the last 50 days of trading for this stock 1.2305, while it was recorded at 1.4620 for the last single week of trading, and 2.1062 for the last 200 days.

IAMGOLD Corporation [IAG]: Deeper insight into the 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.

Insider trade positions for IAMGOLD Corporation [IAG]

There are presently around $394 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 46,106,585, which is approximately -3.195% of the company’s market cap and around 1.70% of the total institutional ownership; DONALD SMITH & CO., INC., holding 39,915,231 shares of the stock with an approximate value of $63.86 million in IAG stocks shares; and KOPERNIK GLOBAL INVESTORS, LLC, currently with $47.06 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 51 institutional holders increased their position in IAMGOLD Corporation [NYSE:IAG] by around 41,030,354 shares. Additionally, 67 investors decreased positions by around 19,937,451 shares, while 31 investors held positions by with 185,214,313 shares. The mentioned changes placed institutional holdings at 246,182,118 shares, according to the latest SEC report filing. IAG stock had 17 new institutional investments in for a total of 13,675,219 shares, while 21 institutional investors sold positions of 10,212,185 shares during the same period.


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