Taking a Closer Look At IAMGOLD Corporation (IAG) Following Its Recent Trade


Following these proceedings, Stifel upgraded its IAMGOLD Corporation [IAG] rating to a Hold from a a Sell in a research note published on Tuesday. A number of analysts have revised their coverage, including CIBC’s analysts, who increased its forecast for the stock in mid December from “a Sector underperform” to “a Neutral”. Canaccord Genuity also remained covering IAG and has increased its forecast on December 20, 2022 with a “Hold” recommendation from previously “Sell” rating. BofA Securities revised its rating on October 19, 2022. It rated IAG as “a Buy” which previously was an “an Underperform”.

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Price Performance Review of IAG

On Tuesday, IAMGOLD Corporation [NYSE:IAG] saw its stock jump 0.89% to $2.27. On the same session, the stock had its day’s lowest price of $2.22, but rose to a high of $2.30. Over the last five days, the stock has lost -2.58%. IAMGOLD Corporation shares have fallen nearly -12.02% since the year began. Nevertheless, the stocks have fallen -26.06% over the past one year. While a 52-week high of $3.77 was reached on 02/02/23, a 52-week low of $0.92 was recorded on 02/24/23. SMA at 50 days reached $2.55, while 200 days put it at $1.84. A total of 6.02 million shares were traded, compared to the trading of 4.35 million shares in the previous session.

Levels Of Support And Resistance For IAG Stock

The 24-hour chart illustrates a support level at 2.23, which if violated will result in even more drops to 2.18. On the upside, there is a resistance level at 2.31. A further resistance level may holdings at 2.34. The Relative Strength Index (RSI) on the 14-day chart is 32.72, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.18, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 81.97%. Stochastics %K at 15.30% indicates the stock is a buying.

How much short interest is there in IAMGOLD Corporation?

A steep rise in short interest was recorded in IAMGOLD Corporation stocks on Jan 30, 2023, dropping by -0.44 million shares to a total of 5.67 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 6.11 million shares. There was a decline of -7.76%, which implies that there is a negative sentiment for the stock.

IAMGOLD Corporation [IAG] – Who Are The Largest Shareholders?

In filings from Van Eck Associates Corp., it is revealed that the company now owns 44,904,343 shares, or roughly 9.38% of the outstanding IAG shares. In other words, the investor’s shares have fallen by -1,202,242 from its previous 13-F filing of 46106585.0. Additionally, Donald Smith & Co., Inc. decreased -7.96% of its stake after which the total value it holdings stand at $103,232,378, while Kopernik Global Investors LLC added 1.00% of its stake to hold $67.56 million in the firm. Over the last quarter, Renaissance Technologies LLC sold -697,496 shares of IAMGOLD Corporation, while Baker Steel Capital Managers LLP sold -634,100 shares. At present, The Vanguard Group, Inc. is holding 12,114,586 shares valued at $34.04 million. Polunin Capital Partners Ltd. owned 9,199,103 shares of the company at the time of its most recent 13F filing, worth $25.85 million.

According to FactSet, IAMGOLD Corporation’s share price will average $2.89 in the next year, based on opinions of analysts polled by the firm. This is up nearly 31.56 percent from its previous closing price of $2.25. Analysts expect IAMGOLD Corporation stock to reach the higher price of $4.08, while the lowest price estimate is $1.75. However, 11 analysts have rated IAG stock as a Hold in their predictions for 2023.


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