Iamgold Corp. (NYSE:IAG) shares, rose in value, with the stock price up by 3.33% to the previous day’s close as strong demand from buyers drove the stock to $3.72.
Actively observing the price movement in the last trading, the stock closed the session at $3.60. The value of beta (5-year monthly) was 1.44 whereas the PE ratio was 19.11 over 12-month period. Referring to stock’s 52-week performance, its high was $3.70, and the low was $1.99. On the whole, IAG has fluctuated by 24.00% over the past month.
With the market capitalization of Iamgold Corp. currently standing at about $1.84 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 09, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0, which is expected to increase to $0.08 for fiscal year $0.11 and then to about $0.22 by fiscal year 2025. Data indicates that the EPS growth is expected to be 22.20% in 2025, while the next year’s EPS growth is forecast to be 100.00%.
Analysts have estimated the company’s revenue for the quarter at $235.87 million, with a low estimate of $226.75 million and a high estimate of $245 million. According to the average forecast, sales growth in current quarter could jump up 17.60%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $1.26 billion, representing an increase of 27.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that IAG’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of IAG currently trading nearly 16.20% and 32.12% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 75.33, while the 7-day volatility ratio is showing 4.90% which for the 30-day chart, stands at 4.42%. Furthermore, Iamgold Corp. (IAG)’s beta value is 1.71, and its average true range (ATR) is 0.16.
A comparison of Iamgold Corp. (IAG) with its peers suggests the former has fared considerably weaker in the market. IAG showed an intraday change of 3.33% in last session, and over the past year, it grew by 27.84%%.
Data on historical trading for Iamgold Corp. (NYSE:IAG) indicates that the trading volumes over the past 10 days have averaged 8.85 million and over the past 3 months, they’ve averaged 8.22 million. According to company’s latest data on outstanding shares, there are 493.60 million shares outstanding.
Nearly 0.27% of Iamgold Corp.’s shares belong to company insiders and institutional investors own 52.44% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 11.43 million shares as on Mar 15, 2024, resulting in a short ratio of 0.99. According to the data, the short interest in Iamgold Corp. (IAG) stood at 1.79% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 13.15 million. The stock has risen by 47.04% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the IAG stock heading into the next quarter.
