Stocks of IAMGOLD Corporation (IAG) are poised to climb above their peers

IAMGOLD Corporation (NYSE: IAG) stock jumped 4.83% on Tuesday to $2.82 against a previous-day closing price of $2.69. With 4.91 million shares changed hands, the volume of the stock remained lighter than its average volume of 6.32 million shares. During the session, the Gold company that operates in wider Basic Materials sector, reached to the highest price of $2.8400 whereas the lowest price it dropped to was $2.6450. The 52-week range on IAG shows that it touched its highest point at $3.77 and its lowest point at $0.92 during that stretch. It currently has a 1-year price target of $2.70. Beta for the stock currently stands at 1.40.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IAG was up-trending over the past week, with a rise of 4.06%, but this was up by 20.00% over a month. Three-month performance surged to 104.35% while six-month performance rose 107.35%. The stock gained 9.30% in the past year, while it has gained 9.30% so far this year. A look at the trailing 12-month EPS for IAG yields -0.60 with Next year EPS estimates of -0.05. For the next quarter, that number is -0.02. This implies an EPS growth rate of -762.90% for this year and -150.00% for next year.

Float and Shares Shorts:

At present, 479.00 million IAG shares are outstanding with a float of 477.98 million shares on hand for trading. On Oct 13, 2022, short shares totaled 23.98 million, which was 5.01% higher than short shares on Sep 14, 2022. In addition to Mr. Bruno Lemelin as the firm’s Sr. VP of Operations & Projects, Mr. Peter Gordon Stothart serves as its Advisor.

Institutional Ownership:

Through their ownership of 73.82% of IAG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 42.58% of IAG, in contrast to 14.78% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in IAG with 9.38% of the stake, Van Eck Associates Corp. holds 44,904,343 shares worth 44,904,343. A second-largest stockholder of IAG, Donald Smith & Co., Inc., holds 39,915,231 shares, controlling over 8.33% of the firm’s shares. Kopernik Global Investors LLC is the third largest shareholder in IAG, holding 23,803,241 shares or 4.97% stake. With a 5.20% stake in IAG, the VanEck Gold Miners ETF is the largest stakeholder. A total of 24,903,492 shares are owned by the mutual fund manager. The Vanguard Selected Value Fund, which owns about 4.14% of IAG stock, is the second-largest Mutual Fund holder. It holds 19,855,730 shares valued at 51.23 million. VanEck Junior Gold Miners ETF holds 3.35% of the stake in IAG, owning 16,048,740 shares worth 41.41 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IAG since 11 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 2 suggest SELL ratings. Of the remaining analysts, 6 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With IAG analysts setting a high price target of $4.30 and a low target of $2.00, the average target price over the next 12 months is $2.85. Based on these targets, IAG could surge 52.48% to reach the target high and fall by -29.08% to reach the target low. Reaching the average price target will result in a growth of 1.06% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. IAG will report FY 2022 earnings on 02/21/2024. Analysts have provided yearly estimates in a range of $0.03 being high and -$0.05 being low. For IAG, this leads to a yearly average estimate of -$0.00. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. IAMGOLD Corporation surprised analysts by -$0.00 when it reported -$0.03 EPS against a consensus estimate of -$0.03. The surprise factor in the prior quarter was -$0.02. Based on analyst estimates, the high estimate for the next quarter is $0.02 and the low estimate is -$0.06. The average estimate for the next quarter is thus -$0.02.

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