Kopernik Global Investors LLC has recently announced that it has increased stake in IAMGOLD Corporation (NYSE:IAG) by 179.81%. After grabbing 29.41 million shares, the institutional investor is now in possession of 18.9 million shares of the Basic Materials Company. The new investment brought the stake of investor firm to 6.14% having worth around $42.95 million. Moreover, Renaissance Technologies LLC increased its share by 1.27 million to have a control over 18.69 million shares. And P. Schoenfeld Asset Management LP raised its holdings to 1.05 million shares by acquiring 13.3 million shares or 2.78% of the stake.
IAMGOLD Corporation (IAG) concluded trading on 11/16/22 at a closing price of $1.80, with 4.05 million shares of worth about $7.29 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -13.46% during that period and on Wednesday the price saw a loss of about -1.64%. Currently the company’s common shares owned by public are about 479.00M shares, out of which, 423.61M shares are available for trading.
VanEck Gold Miners ETF, Vanguard Selected Value Fund, and VanEck Junior Gold Miners ETF are the top 3 mutual funds which are holding stakes in IAMGOLD Corporation VanEck Gold Miners ETF is currently holding 25.86 million shares of worth totaling $37.75 million. The company recently came selling 25288.0 shares which brought its stake up to 5.40% of the company’s outstanding shares. VanEck Junior Gold Miners ETF, after buying 17.32 million shares, have now control over 3.62% of the stake in the company. It holds 0.0 shares of worth $25.29 million.
However, the stock later moved at a day high price of 1.8454, or with a loss of -1.64%. Stock saw a price change of 4.65% in past 5 days and over the past one month there was a price change of 41.73%. Year-to-date (YTD), IAG shares are showing a performance of -42.49% which decreased to -46.43% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.92 but also hit the highest price of $3.77 during that period. The average intraday trading volume for IAMGOLD Corporation shares is 5.53 million. The stock is currently trading 17.80% above its 20-day simple moving average (SMA20), while that difference is up 38.23% for SMA50 and it goes to -13.69% lower than SMA200.
Kopernik Global Investors LLC acquired 29.41 million shares of IAMGOLD Corporation having value of about $42.95 million. Data submitted at the U.S SEC by Kopernik Global Investors LLC revealed that the firm now holds 18.9 million shares in the company valued at close to $34024066.2, or have control over 179.81% stake in the company. IAMGOLD Corporation (NYSE: IAG) currently have 479.00M outstanding shares and institutions hold larger chunk of about 76.80% of that. Holding of mutual funds in the company is about 16.03% while other institutional holders and individual stake holders have control over 43.26% and — of the stake respectively.
The stock has a current market capitalization of $877.03M and its 3Y-monthly beta is at 1.46. It has posted earnings per share of -$0.60 in the same period. It has Quick Ratio of 1.30 while making debt-to-equity ratio of 0.43. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for IAG, volatility over the week remained 3.96% while standing at 6.72% over the month.
Analysts are in expectations that IAMGOLD Corporation (IAG) stock would likely to be making an EPS of -$0.03 in the current quarter, while forecast for next quarter EPS is $0 and it is -$0.01 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.07 which is $0.01 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.04 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -762.90% while it is estimated to increase by 200.00% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BofA Securities on October 19, 2022 offering a Buy rating for the stock and assigned a target price range of between $2.10 and $1.65 to it. On May 05, 2022, National Bank Financial Downgrade their recommendations, while on May 04, 2022, Raymond James Downgrade their ratings for the stock with a price target of $2.25. Stock get an Underperform rating from Credit Suisse on May 04, 2022.