IAMGOLD Corporation (NYSE: IAG) stock fell -0.78% on Monday to $2.54 against a previous-day closing price of $2.56. With 2.84 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.99 million shares. During the session, the Gold company that operates in wider Basic Materials sector, reached to the highest price of $2.5600 whereas the lowest price it dropped to was $2.5000. The 52-week range on IAG shows that it touched its highest point at $3.34 and its lowest point at $0.92 during that stretch. It currently has a 1-year price target of $3.22. Beta for the stock currently stands at 1.47.
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 13.90%, but this was up by 17.05% over a month. Three-month performance dropped to -12.71% while six-month performance rose 2.01%. The stock gained 111.67% in the past year, while it has lost -1.55% so far this year. A look at the trailing 12-month EPS for IAG yields 0.09 with Next year EPS estimates of 0.31. For the next quarter, that number is 0.00. This implies an EPS growth rate of 38.70% for this year and 468.52% for next year.
Float and Shares Shorts:
At present, 481.00 million IAG shares are outstanding with a float of 455.79 million shares on hand for trading. On Aug 30, 2023, short shares totaled 8.49 million, which was 1.77% higher than short shares on Jul 30, 2023. In addition to Mr. Marthinus Wilhelmus Theunissen as the firm’s Chief Financial Officer, Mr. Bruno Lemelin serves as its Sr. VP of Operations & Projects.
Through their ownership of 67.84% of IAG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 40.36% of IAG, in contrast to 16.43% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in IAG with 9.35% of the stake, Van Eck Associates Corp. holds 44,969,988 shares worth 44,969,988. A second-largest stockholder of IAG, Donald Smith & Co., Inc., holds 31,376,383 shares, controlling over 6.52% of the firm’s shares. Kopernik Global Investors LLC is the third largest shareholder in IAG, holding 17,875,791 shares or 3.72% stake. With a 5.32% stake in IAG, the VanEck Gold Miners ETF is the largest stakeholder. A total of 25,585,901 shares are owned by the mutual fund manager. The VanEck Junior Gold Miners ETF, which owns about 3.42% of IAG stock, is the second-largest Mutual Fund holder. It holds 16,472,752 shares valued at 40.52 million. Vanguard Selected Value Fund holds 3.07% of the stake in IAG, owning 14,779,630 shares worth 36.36 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, IAG reported revenue of $334.00M and operating income of $22.90M. The EBITDA in the recently reported quarter was $103.60M and diluted EPS was -$0.02.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IAG since 0 analysts follow the stock currently. 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 $4.10 and a low target of $2.50, the average target price over the next 12 months is $3.25. Based on these targets, IAG could surge 61.42% to reach the target high and fall by -1.57% to reach the target low. Reaching the average price target will result in a growth of 27.95% 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.