Unlocking Growth Opportunity In Iamgold Corp. (NYSE: IAG)

Iamgold Corp. (NYSE:IAG) price on Thursday, May 09, rose 1.46% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $3.84.

A look at the stock’s price movement, the level at last check in today’s session was $3.78. The PE ratio in trailing twelve months stood at 19.70. Turning to its 52-week performance, $3.92 and $1.99 were the 52-week high and 52-week low respectively. Overall, IAG moved 5.94% over the past month.

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Iamgold Corp.’s market cap currently stands at around $1.89 billion.

Analysts have a consensus estimate of 267.16M for the company’s revenue for the quarter, with a low and high estimate of 245M and 289.32M respectively. The average forecast suggests up to a 33.20% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 1.35B, representing a 36.70% jump on that reported in the last financial year.

Turning to the stock’s technical picture we see that short term indicators suggest on average that IAG is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.

The technical evaluation for the stock shows the PEG ratio is 0.49, with IAG’s current price about 4.68% and 13.81% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 60.74, while 7-day volatility ratio is 2.97% and 4.56% in the 30-day chart. Further, Iamgold Corp. (IAG) has a beta value of 1.66, and an average true range (ATR) of 0.16.

If we refocus on Iamgold Corp. (NYSE:IAG), historical trading data shows that trading volumes averaged 9.26 million over the past 3 months. The company’s latest data on shares outstanding shows there are 493.60 million shares.

The 0.27% of Iamgold Corp.’s shares are in the hands of company insiders while institutional holders own 57.68% of the company’s shares. Current price change has pushed the stock 51.58% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the IAG stock continues to rise going into the next quarter.

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