IAMGOLD Corporation [IAG] is 1.55% higher this YTD. Is it still time to buy?

IAMGOLD Corporation [NYSE: IAG] price plunged by -1.50 percent to reach at -$0.04. The company report on February 2, 2023 that IAMGOLD Announces Results of the Gosselin 2022 Drill Program Demonstrating Expansion Potential of the Deposit.

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

Toronto, Ontario–(Newsfile Corp. – February 2, 2023) – IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) (“IAMGOLD” or the “Company”) is pleased to announce additional assay results from its ongoing diamond drilling program at the Gosselin zone discovery, located immediately adjacent to the Côté Gold deposit in Ontario, Canada. The Gosselin delineation drilling program is being undertaken as part of the Côté Gold joint venture between IAMGOLD, as the operator, and Sumitomo Metal Mining Co., Ltd. (“SMM”). Côté Gold is currently under construction and is expected to commence production in early 2024 (refer to Company news releases dated November 8, 2022).

A sum of 5322376 shares traded at recent session while its average daily volume was at 6.39M shares. IAMGOLD Corporation shares reached a high of $2.69 and dropped to a low of $2.59 until finishing in the latest session at $2.62.

The one-year IAG stock forecast points to a potential upside of 7.75. The average equity rating for IAG stock is currently 2.80, trading closer to a bullish pattern in the stock market.

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 $2.84 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 2.80. 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 0.13, with the Price to Sales ratio for IAG stock in the period of the last 12 months amounting to 0.99. The Price to Book ratio for the last quarter was 0.59, with the Price to Cash per share for the same quarter was set at 1.07. Price to Free Cash Flow for IAG in the course of the last twelve months was 7.43 with Quick ratio for the last quarter at 1.30.

IAG Stock Performance Analysis:

IAMGOLD Corporation [IAG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.42. With this latest performance, IAG shares dropped by -3.32% in over the last four-week period, additionally plugging by 101.54% over the last 6 months – not to mention a rise of 2.75% 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 48.55, with the RSI for the last a single of trading hit 39.92, and the three-weeks RSI is set at 53.43 for IAMGOLD Corporation [IAG]. The present Moving Average for the last 50 days of trading for this stock 2.43, while it was recorded at 2.75 for the last single week of trading, and 1.85 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 $612 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 $104.58 million in IAG stocks shares; and KOPERNIK GLOBAL INVESTORS, LLC, currently with $62.36 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 February and at the time of the February reporting period, where 49 institutional holders increased their position in IAMGOLD Corporation [NYSE:IAG] by around 14,338,842 shares. Additionally, 61 investors decreased positions by around 25,951,399 shares, while 28 investors held positions by with 193,142,606 shares. The mentioned changes placed institutional holdings at 233,432,847 shares, according to the latest SEC report filing. IAG stock had 13 new institutional investments in for a total of 1,315,728 shares, while 16 institutional investors sold positions of 2,373,260 shares during the same period.


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