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IAMGOLD Corporation (NYSE: IAG) Could Bring Massive Returns?

In today’s recent session, 1.03 million shares of the IAMGOLD Corporation (NYSE:IAG) have been traded, and its beta is 1.11. Most recently the company’s…



This article was originally published by The Marketing Sentinal

In today’s recent session, 1.03 million shares of the IAMGOLD Corporation (NYSE:IAG) have been traded, and its beta is 1.11. Most recently the company’s share price was $2.03, and it changed around $0.03 or 1.25% from the last close, which brings the market valuation of the company to $989.44M. IAG at last check was trading at a discount to its 52-week high of $3.77, offering almost -85.71% off that amount. The share price’s 52-week low was $1.89, which indicates that the recent value has risen by an impressive 6.9% since then. We note from IAMGOLD Corporation’s average daily trading volume that its 3-month average coming to 9.19 million.

IAMGOLD Corporation stock received a consensus recommendation rating of an Underweight, based on a mean score of 3.50. If we narrow it down even further, the data shows that 6 out of 12 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 4 recommended IAG as a Hold, whereas 1 deemed it a Buy, and 1 rated it as Underweight. IAMGOLD Corporation is expected to report earnings per share of $0 for the current quarter.

IAMGOLD Corporation (NYSE:IAG) trade information

Instantly IAG has been showing a green trend so far today with a performance of 1.25% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 2.07 on Tuesday, 06/21/22 increased the stock’s daily price by 1.93%. The company’s shares are currently down -36.10% year-to-date, but still down -2.44% over the last five days. On the other hand, IAMGOLD Corporation (NYSE:IAG) is -12.28% down in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $2.39, which translates to bulls needing to increase their stock price by 15.06% from its current value. Analyst projections state that IAG is forecast to be at a low of $1.75 and a high of $3.90. In order for the stock price to hit the forecast high, the stock would need to plunge -92.12% from its current level, while the stock would need to crash 13.79% from its current level to reach the projected low.

IAMGOLD Corporation (IAG) estimates and forecasts

IAMGOLD Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -31.97 percent over the past six months and at a 16.67% annual growth rate that is well above the industry average of 11.90%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will gain 100.00% in revenue this quarter, and will report an increase of 100.00% in the next quarter. The year-over-year growth rate is expected to be 6.70%, up from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $301.41 million in revenue for the current quarter. 2 analysts expect IAMGOLD Corporation to make $320.57 million in revenue for the quarter ending Sep 2022. Forecasts for the next quarter put sales growth at 9.00%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -44.50%. IAMGOLD Corporation earnings are expected to increase by -762.90% in 2022, but the outlook is positive 3.00% per year for the next five years.

IAG Dividends

IAMGOLD Corporation’s next quarterly earnings report is expected to be released around May 02 and May 06.

IAMGOLD Corporation (NYSE:IAG)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.31% of IAMGOLD Corporation shares, and 66.89% of them are in the hands of institutional investors. The stock currently has a share float of 67.09%. IAMGOLD Corporation stock is held by 247 institutions, with Van Eck Associates Corporation being the largest institutional investor. By Mar 30, 2022, it held 9.81% of the shares, which is about 46.99 million shares worth $163.51 million.

Smith (Donald) & Company Inc., with 8.34% or 39.96 million shares worth $139.06 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.

VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF were the top two Mutual Funds as of Dec 30, 2021. The former held 21.3 million shares worth $66.65 million, making up 4.45% of all outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held roughly 20.26 million shares worth around $58.95 million, which represents about 4.23% of the total shares outstanding.

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