As of Friday close, IAMGOLD Corporation’s (NYSE:IAG) stock was down -$0.04, moving down -1.74 percent to $2.26. The average number of shares traded per day over the past five days has been 2,724,180 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.30 fall in that time frame. In the last twenty days, the average volume was 3,038,560, while in the previous 50 days, it was 2,838,034.
Since last month, IAG stock retreated -2.59%. Shares of the company fell to $2.19 on 09/08/23, the lowest level in the past month. A 52-week high of $3.34 was reached on 05/04/23 after having rallying from a 52-week low of $0.92. Since the beginning of this year, IAG’s stock price has dropped by -12.40% or -$0.32, and marked a new high 17 times. However, the stock has declined by -32.23% since its 52-week high.
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Valuation Metrics
Right now, IAMGOLD Corporation (IAG) has a P/E ratio of about 25.68. The stock’s beta is 1.47. Besides these, the trailing price-to-sales (P/S) ratio of 1.22, the price-to-book (PB) ratio of 0.49.
The latest dividend of $0.1250 per share was paid out, remained unchanged from last year’s $0.1250.
Financial Health
In the three months ended June 29, IAMGOLD Corporation’s quick ratio stood at 1.90, while its current ratio was 2.40, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.42, and the total debt-to-equity ratio was 0.43. On the profitability front, the trailing twelve-month gross margin is 12.30% percent. Based on annual data, IAG earned $147.9 million in gross profit and brought in $958.8 million in revenue.
In IAMGOLD Corporation’s quarter-end financial report for June 29, it reported total debt of $2.3 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. IAG’s revenue fell -4.29% during the quarter, while net income inched up to $1.07 billion. While analysts expected IAMGOLD Corporation to report -$0.01 quarterly earnings, the actual figure was -$0.01 per share. During the quarter, the company generated $48.7 million in EBITDA. The liabilities of IAMGOLD Corporation were 2.17 billion at the end of its most recent quarter ended June 29, and its total debt was $965.8 million.
Technical Picture
This quick technical analysis looks at IAMGOLD Corporation’s (IAG) price momentum. With a historical volatility rate of 60.14%, the RSI 9-day stood at 40.29% on 22 September.
With respect to its five-day moving average, the current IAMGOLD Corporation price is down by -11.72% percent or -$0.30. At present, IAG shares trade -1.74% below its 20-day simple moving average and -22.87% percent below its 100-day simple moving average. However, the stock is currently trading approximately -22.07% below its SMA50 and +7.62% above its SMA200.
Stochastic coefficient K was 35.00% and Stochastic coefficient D was 53.33%, while ATR was 0.11. Given the Stochastic reading of 17.50% for the 14-day period, the RSI (14) reading has been calculated as 42.89%. As of today, the MACD Oscillator reading stands at -0.06, while the 14-day reading stands at -0.01.
Analyst Ratings
RBC Capital Mkts upgraded its rating on IAMGOLD Corporation (NYSE: IAG) to a Sector perform in a note to investors on September 12, 2023. The analysts firm previously had an Underperform rating on the stock.IAMGOLD Corporation (IAG) has been rated Hold by analysts. According to 2 brokerage firms, IAG is a sell, and 6 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate IAMGOLD Corporation stock as buy, with 3 recommending it as overweight.
With a median target price of $3.30, the current consensus forecast for the stock is $2.59 – $4.10. Based on these forecasts, analysts predict IAMGOLD Corporation (IAG) will achieve an average price target of $3.32.
