The stock of IAMGOLD Corporation (NYSE:IAG) is now priced at $4.29 and the shares are 0.01 points up or 0.23% higher compared to its previous closing price of $4.28. The stock had 4.263 million contracts set over the past session. IAG shares’ daily volume is compared to its average trading volume at 4.806 million shares. However, it has a float of 471 million and although its performance was 4.13% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the IAG share price recently placing at $4.285 to $4.41. However, some brokerage firms have priced the stock below the average, including one that has called $4.25.
The shorts are running away from the IAMGOLD Corporation stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the IAG shares have declined. Short interest in the stock represents just 0.71% of its float, but the volume has dropped by 0.
In the last trading session, IAMGOLD Corporation (NYSE:IAG) raised by $0.17 over the week and lost -$0.63 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $5.35. The stock recorded its established 52-week high on 08/05/20.
Since 03/16/20, the stock has traded to a low of $1.44 at 197.92%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.97. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, IAMGOLD Corporation’s two-week RSI is 48.86. This suggests that the stock is neutral at the moment and that IAG shares’ price movement remains stable. The stochastic readings are equally revealing at 40.85% meaning the IAG share price is currently in neutral territory.
The technical chart shows that the IAG stock will likely settle at between $4.37 and $4.45 per share. However, if the stock dips below $4.25, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $4.2.
Currently, the stock is trading in the green of MACD, with a reading of 0.02. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at BofA Securities cut their recommendation for IAG from Buy to Underperform in August 07 review while maintai their target price of $6.25 to $4.40. RBC Capital Mkts analysts see the stock as a Sector Perform in a flash note released to investors on December 05 resuming covering the stock. Canaccord Genuity seeing the stock struggling downgraded it from Buy to Hold on May 07.
The average rating for the IAG equity is 2.5 and is currently gathering a bullish momentum. Of 12 analysts tracking IAMGOLD Corporation polled by Reuters, 6 rated IAG as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (5) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the IAG stock price is 7.49X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 23.9. IAMGOLD Corporation has its P/E ratio at 0.9, which means that the stock is currently trading at a discount relative to the 2.9 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for IAMGOLD Corporation (NYSE:IAG) will decrease by about -99.92%, which will see them reach $301 million. The company’s full-year revenues are, however, expected to increase by about 6.42%, up from $1090 million to $1160 million. IAG’s expected adjusted earnings should surge almost 0% to end up at $0.01 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 50% to record $0.09/share.