IAMGOLD Corporation [IAG] is -21.41% lower this YTD. Is it still time to buy?

IAMGOLD Corporation [NYSE: IAG] stock went on an upward path that rose over 0.82% on Friday, amounting to a one-week price increase of more than 28.80%. The company report on December 20, 2022 that IAMGOLD Announces Agreement to Sell Its Boto Gold Project and Surrounding Exploration Assets to Managem for Total Consideration of $282 Million.

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All monetary amounts are expressed in U.S. dollars, unless otherwise indicated.

Toronto, Ontario–(Newsfile Corp. – December 20, 2022) – IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) (“IAMGOLD” or the “Company”) is pleased to announce that it has entered into definitive agreements with Managem (CAS: MNG) to sell, for aggregate consideration of approximately $282 million, the Company’s interests in its exploration and development projects in Senegal, Mali and Guinea (collectively, the “Bambouk assets”).

Over the last 12 months, IAG stock dropped by -21.66%. The one-year IAMGOLD Corporation stock forecast points to a potential downside of -3.36. The average equity rating for IAG stock is currently 2.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.17 billion, with 479.00 million shares outstanding and 477.98 million shares in the current float. Compared to the average trading volume of 6.18M shares, IAG stock reached a trading volume of 7366158 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 $2.38 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 2.90. 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 Hold, with their previous recommendation back on December 21, 2022. The new note on the price target was released on December 20, 2022, representing the official price target for IAMGOLD Corporation stock. On October 19, 2022, analysts decreased their price target for IAG shares from 2.10 to 1.65.

The Average True Range (ATR) for IAMGOLD Corporation is set at 0.14, with the Price to Sales ratio for IAG stock in the period of the last 12 months amounting to 0.88. The Price to Book ratio for the last quarter was 0.55, with the Price to Cash per share for the same quarter was set at 1.13. Price to Free Cash Flow for IAG in the course of the last twelve months was 6.59 with Quick ratio for the last quarter at 1.30.

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 28.80. With this latest performance, IAG shares gained by 24.24% in over the last four-week period, additionally plugging by 30.16% over the last 6 months – not to mention a drop of -21.66% 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 70.23, with the RSI for the last a single of trading hit 73.26, and the three-weeks RSI is set at 68.46 for IAMGOLD Corporation [IAG]. The present Moving Average for the last 50 days of trading for this stock 1.78, while it was recorded at 2.27 for the last single week of trading, and 1.96 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 1.30 and a Current Ratio set at 2.00.

IAMGOLD Corporation [IAG] Insider Position Details

There are presently around $584 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 $98.19 million in IAG stocks shares; and KOPERNIK GLOBAL INVESTORS, LLC, currently with $58.56 million in IAG stock with ownership of nearly -19.077% 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 48 institutional holders increased their position in IAMGOLD Corporation [NYSE:IAG] by around 14,260,981 shares. Additionally, 62 investors decreased positions by around 25,534,735 shares, while 32 investors held positions by with 197,737,890 shares. The mentioned changes placed institutional holdings at 237,533,606 shares, according to the latest SEC report filing. IAG stock had 14 new institutional investments in for a total of 1,294,325 shares, while 17 institutional investors sold positions of 2,392,104 shares during the same period.


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