Iamgold Corp. [NYSE: IAG] surged by $0.11 during the normal trading session on Tuesday and reaching a high of $2.32 during the day while it closed the day at $2.29. The company report on November 14, 2023 at 7:58 AM that IAMGOLD Announces Filing of Draft Buy-Out Offer for Euro Ressources.
Toronto, Ontario–(Newsfile Corp. – November 14, 2023) – IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) (“IAMGOLD” or the “Company”), announced today that it has filed, through its wholly-owned subsidiary IAMGOLD France S.A.S. (“IAMGOLD France”), a draft buy-out offer with the Autorité des marchés financiers (“AMF”) in France to acquire all of the outstanding common shares (“EURO Shares”) of EURO Ressources S.A. (“EURO”) that IAMGOLD France does not already own for cash consideration of €3.50 per EURO Share (the “Offer Price”) to be followed immediately by a squeeze-out under French law (the “Offer”).
The Offer Price represents a 6.71% premium based on the closing price of the EURO Shares on the Euronext Paris stock exchange as of 13 November 2023. IAMGOLD France will finance the Offer from existing cash resources.
Iamgold Corp. stock has also loss -5.37% of its value over the past 7 days. However, IAG stock has inclined by 5.53% in the 3 months of the year. Over the past six months meanwhile, it has lost -21.58% and lost -11.24% year-on date.
The market cap for IAG stock reached $1.10 billion, with 481.10 million shares outstanding and 479.93 million shares in the current float. Compared to the average trading volume of 3.78M shares, IAG reached a trading volume of 4932507 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Iamgold Corp. [IAG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IAG shares is $3.15 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 2.55. 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.
RBC Capital Mkts have made an estimate for Iamgold Corp. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on September 12, 2023.
The Average True Range (ATR) for Iamgold Corp. is set at 0.11, with the Price to Sales ratio for IAG stock in the period of the last 12 months amounting to 0.83. The Price to Book ratio for the last quarter was 0.50, with the Price to Cash per share for the same quarter was set at 1.14.
IAG stock trade performance evaluation
Iamgold Corp. [IAG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.37. With this latest performance, IAG shares dropped by 0.00% in over the last four-week period, additionally sinking by -21.58% over the last 6 months – not to mention a rise of 23.78% 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 44.92, with the RSI for the last a single of trading hit 41.73, and the three-weeks RSI is set at 46.64 for Iamgold Corp. [IAG]. The present Moving Average for the last 50 days of trading for this stock 2.31, while it was recorded at 2.27 for the last single week of trading, and 2.58 for the last 200 days.
Iamgold Corp. [IAG]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Iamgold Corp. [IAG] shares currently have an operating margin of +4.86 and a Gross Margin at +10.18. Iamgold Corp.’s Net Margin is presently recorded at -5.78.
Return on Total Capital for IAG is now 1.53, given the latest momentum, and Return on Invested Capital for the company is -1.88. Return on Equity for this stock declined to -2.53, with Return on Assets sitting at -1.22. When it comes to the capital structure of this company, Iamgold Corp. [IAG] has a Total Debt to Total Equity ratio set at 46.58. Additionally, IAG Total Debt to Total Capital is recorded at 31.78, with Total Debt to Total Assets ending up at 20.80. Long-Term Debt to Equity for the company is recorded at 45.93, with the Long-Term Debt to Total Capital now at 31.34.
Reflecting on the efficiency of the workforce at the company, Iamgold Corp. [IAG] managed to generate an average of -$14,265 per employee. Receivables Turnover for the company is 14.26 with a Total Asset Turnover recorded at a value of 0.21.Iamgold Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.17 and a Current Ratio set at 1.60.
Iamgold Corp. [IAG]: Institutional Ownership
The top three institutional holders of IAG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in IAG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in IAG stock with ownership which is approximately 5.7994%.