Markets

Are Investors Buying or Selling IAMGOLD Corporation (IAG), and What Should You Do?

Recent insider trends for IAMGOLD Corporation (NYSE:IAG) have caught the attention of investors. Analysts study insider data to get a sense of sense of what key shareholders think about the outlook for a particular stock. In the case of IAG, the data has some interesting implications for where the stock might be headed.

Institutions own 57.37% of IAMGOLD Corporation (IAG)’s shares. The total value of these holdings, in millions, is $1,699. Among active positions in the latest quarter, 68 holders increased their positions by a total of 52.26 million shares, 70 holders decreased the positions by a total of 58.86 million shares, and 25 holders held their positions. This works out to a net decrease in ownership of 6.59 million shares, and suggests that institutions are feeling bearish about the stock.

Among new and sold out positions, 19 holders initiated new positions by a total of 3.81 million shares and 24 holders exited their positions by a total of 3.84 million shares. This nets out to a decrease of 33278 shares and is another bearish sign for IAG.

Insider ownership increased by a total of 0 shares, which suggests that IAG’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: ownership increased by a net of 0 shares.



Short interest is another tool that analysts use to gauge investor sentiment. It represents the number of a stock’s shares that are being shorted by investors. IAMGOLD Corporation (NYSE:IAG)’s short interest is 7.38 million shares, or 1.63% of the float. This represents an increase of 56% in the number of shares being shorted compared to the previous reading, and implies that investors felt more pessimistic about the stock during the past two weeks.

In light of the insider ownership and trading data it makes sense to consider technicals to see if they come to a similar conclusion about the outlook for IAG. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that IAG is a Weak buy, which implies that IAG is expected to outperform the market based on prior trading patterns.

Conclusion




Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that IAMGOLD Corporation (NYSE:IAG) is undervalued.

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