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IAMGOLD Corporation (NYSE: IAG): How Can A Stock Be Down -65.81% Year To Date, But Still Loser

IAMGOLD Corporation (NYSE:IAG)’s traded shares stood at 10.6 million during the last session, with the company’s beta value hitting 1.31. At the close…

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This article was originally published by The Marketing Sentinal

IAMGOLD Corporation (NYSE:IAG)’s traded shares stood at 10.6 million during the last session, with the company’s beta value hitting 1.31. At the close of trading, the stock’s price was $1.07, to imply an increase of 9.63% or $0.09 in intraday trading. The IAG share’s 52-week high remains $3.77, putting it -252.34% down since that peak but still an impressive 14.02% since price per share fell to its 52-week low of $0.92. The company has a valuation of $571.87M, with an average of 9.17 million shares in intraday trading volume over the past 10 days and average of 5.85 million shares over the past 3 months.

Analysts have given a consensus recommendation of an Underweight for IAMGOLD Corporation (IAG), translating to a mean rating of 3.60. Of 12 analyst(s) looking at the stock, 6 analyst(s) give IAG a Sell rating. 0 of those analysts rate the stock as Overweight while 4 advise Hold as 1 recommend it as a Buy. 1 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.02.

IAMGOLD Corporation (NYSE:IAG) trade information

After registering a 9.63% upside in the last session, IAMGOLD Corporation (IAG) has traded red over the past five days. The stock hit a weekly high of 1.2150 this Wednesday, 09/28/22, jumping 9.63% in its intraday price action. The 5-day price performance for the stock is -7.76%, and -17.05% over 30 days. With these gigs, the year-to-date price performance is -65.81%. Short interest in IAMGOLD Corporation (NYSE:IAG) saw shorts transact 31.42 million shares and set a 4.48 days time to cover.

Analysts on Wall Street suggest a consensus price target of $1.67, implying an increase of 35.93% to the stock’s current value. The extremes give us $1.10 and $2.72 for target low and target high price respectively. As such, IAG has been trading -154.21% off suggested target high and -2.8% from its likely low.

IAMGOLD Corporation (IAG) estimates and forecasts

Looking at statistics comparing IAMGOLD Corporation share performance against respective industry, we note that the company has underperformed competitors. IAMGOLD Corporation (IAG) shares are -68.80% down over the last 6 months, with its year-to-date growth rate lower than industry average at -83.33% against 1.70%. Revenue is forecast to grow 300.00% this quarter before jumping 125.00% for the next one. The rating firms project that company’s revenue will grow 7.30% compared to the previous financial year.

Revenue forecast for the current quarter as set by 2 analysts is $346.23 million. Meanwhile, for the quarter ending Sep 2022, a total of 2 analyst(s) estimate revenue growth to $306.43 million.

IAG Dividends

IAMGOLD Corporation has its next earnings report out between November 01 and November 07. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. IAMGOLD Corporation has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

IAMGOLD Corporation (NYSE:IAG)’s Major holders

IAMGOLD Corporation insiders hold 0.31% of total outstanding shares, with institutional holders owning 68.83% of the shares at 69.04% float percentage. In total, 68.83% institutions holds shares in the company, led by Van Eck Associates Corporation. As of Mar 30, 2022, the company held over 46.99 million shares (or 9.81% of shares), all amounting to roughly $163.51 million.

The next major institution holding the largest number of shares is Smith (Donald) & Company Inc. with 39.96 million shares, or about 8.34% of shares outstanding. As of the market price on Mar 30, 2022, these shares were worth $139.06 million.

We also have VanEck ETF Trust-VanEck Gold Miners ETF and Vanguard Selected Value Fund as the top two Mutual Funds with the largest holdings of the IAMGOLD Corporation (IAG) shares. Going by data provided on Jun 29, 2022, VanEck ETF Trust-VanEck Gold Miners ETF holds roughly 25.37 million shares. This is just over 5.30% of the total shares, with a market valuation of $40.85 million. Data from the same date shows that the other fund manager holds a little less at 19.86 million, or 4.15% of the shares, all valued at about 55.99 million.


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