IAMGOLD Corporation [IAG] is -12.02% lower this YTD. Is it still time to buy?

IAMGOLD Corporation [NYSE: IAG] price surged by 0.89 percent to reach at $0.02. The company report on February 23, 2023 that IAMGOLD Files Technical Report for the Nelligan Project.

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Toronto, Ontario–(Newsfile Corp. – February 23, 2023) – IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) (“IAMGOLD” or the “Company”) announces that the Company has filed a technical report for the Nelligan Joint Venture Project (“Nelligan”) (IAMGOLD: 75%, Vanstar Mining Resources Inc. (“Vanstar”): 25%), titled “Independent Technical Report for the Nelligan Gold Project, Quebec, Canada” (the 2023 Technical Report) dated February 22, 2023.

A sum of 6016189 shares traded at recent session while its average daily volume was at 6.16M shares. IAMGOLD Corporation shares reached a high of $2.30 and dropped to a low of $2.22 until finishing in the latest session at $2.27.

The one-year IAG stock forecast points to a potential upside of 21.99. 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 $2.91 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 0.11, with the Price to Sales ratio for IAG stock in the period of the last 12 months amounting to 1.13. The Price to Book ratio for the last quarter was 0.51, with the Price to Cash per share for the same quarter was set at 0.86. Price to Free Cash Flow for IAG in the course of the last twelve months was 2.96 with Quick ratio for the last quarter at 2.00.

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 -2.58. With this latest performance, IAG shares dropped by -19.50% in over the last four-week period, additionally plugging by 78.74% over the last 6 months – not to mention a drop of -26.06% 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 32.72, with the RSI for the last a single of trading hit 24.91, and the three-weeks RSI is set at 39.80 for IAMGOLD Corporation [IAG]. The present Moving Average for the last 50 days of trading for this stock 2.55, while it was recorded at 2.25 for the last single week of trading, and 1.84 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 +4.86 and a Gross Margin at +10.18. IAMGOLD Corporation’s Net Margin is presently recorded at -5.78.

Return on Equity for this stock declined to -2.53, with Return on Assets sitting at -1.22.

IAMGOLD Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.40.

IAMGOLD Corporation [IAG] Insider Position Details

There are presently around $524 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 44,904,343, which is approximately -2.608% of the company’s market cap and around 1.70% of the total institutional ownership; DONALD SMITH & CO., INC., holding 36,737,501 shares of the stock with an approximate value of $83.39 million in IAG stocks shares; and KOPERNIK GLOBAL INVESTORS, LLC, currently with $54.58 million in IAG stock with ownership of nearly 1.005% of the company’s market capitalization.

Positions in IAMGOLD Corporation stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 68 institutional holders increased their position in IAMGOLD Corporation [NYSE:IAG] by around 21,251,074 shares. Additionally, 59 investors decreased positions by around 28,045,474 shares, while 22 investors held positions by with 181,378,063 shares. The mentioned changes placed institutional holdings at 230,674,611 shares, according to the latest SEC report filing. IAG stock had 27 new institutional investments in for a total of 14,022,674 shares, while 18 institutional investors sold positions of 1,810,596 shares during the same period.


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