Is It Right Time to Be Bearish on United States Steel Corporation (X), IAMGOLD Corporation (IAG)?

The shares of United States Steel Corporation (NYSE:X) has been pegged with a rating of Sell by Goldman in its latest research note that was published on June 4th, 2019. The research company has also assigned a $11 price target. Goldman wasn’t the only research firm that published a report of United States Steel Corporation, with other equities research analysts also giving their opinion on the stock. BofA/Merrill advised investors in its research note published on May 31st, 2019, to Underperform the X stock while also putting a $8 price target. The stock had earned Sell rating from Deutsche Bank when it published its report on May 30th, 2019. The stock was given Sell rating by UBS in its report released on May 8th, 2019, the day when the price target on the stock was placed at $10. BofA/Merrill was of a view that X is Underperform in its latest report on May 3rd, 2019 while giving it a price target of $12. BofA/Merrill thinks that X is worth Underperform rating. This was contained in the firm’s report on April 11th, 2019 in which the stock’s price target was also moved to $18.

Amongst the analysts that rated the stock, 2 have recommended investors to sell it, 8 believe it has the potential for further growth, thus rating it as Hold while 2 advised investors to purchase the stock. The consensus currently stands at a Hold while its average price target is $15.58. The price of the stock the last time has raised by 28.02% from its Week high price while it is raised higher than its 52-Week low price. A look at the stock’s other technical shows that its 14-day RSI now stands at 54.78.

The shares of the company dipped by -1.26% during the trading session on Wednesday, reaching a low of $14.70 while ending the day at $14.94. During the trading session, a total of 10.18 million shares were traded which represents a 21.58% incline from the average session volume which is 12.98M shares. X had ended its last session trading at 15.13. United States Steel Corporation currently has a market cap of $2.59B, while its P/E ratio stands at 2.31, while its P/E earnings growth sits at 0.18, with a beta of 2.96. United States Steel Corporation debt-to-equity ratio currently stands at 0.56, while its quick ratio hovers at 0.80. X 52-week low price stands at $11.67 while its 52-week high price is $38.89.

The company in its last quarterly report recorded $0.47 earnings per share which is above the $0.15 predicted by most analysts. The United States Steel Corporation generated $3,499.00 million in revenue during the last quarter, which is slightly higher than the $3,343.68 million predicted by analysts. In the second quarter last year, the firm recorded $1.82 earnings per share. Compared to the same quarter last year, the firm’s revenue was down by -287.23%. United States Steel Corporation has the potential to record 6.46 EPS for the current fiscal year, according to equities analysts.

Investment analysts at Canaccord Genuity published a research note on May 7th, 2019 where it informed investors and clients that IAMGOLD Corporation (NYSE:IAG) is now rated as Hold. BofA/Merrill also rated IAG as Reiterated on May 31st, 2019, with its price target of $8 suggesting that IAG could surge by 51.5% from its current share price. Even though the stock has been trading at $3.54/share, analysts expect it to surge higher by 4.80% to reach $7.65/share. It started the day trading at $3.71 and traded between $3.51 and $3.71 throughout the trading session.

A look at its technical shows that IAG’s 50-day SMA is 2.91 while its 200-day SMA stands at 3.32. At the moment, only of IAMGOLD Corporation shares were sold short. The company’s average trading volume currently stands at 5.72M shares, which means that the short-interest ratio is just 1.42 days. Over the past seven days, the company moved, with its shift of 6.61%. Looking further, the stock has raised 18.91% over the past 90 days while it gained 3.63% over the last six months.

The change in the stock’s fortunes has led to several institutional investors altering their holdings of the stock. Van Eck Associates Corp sold more IAG shares, decreasing its portfolio by -17.39% during the last quarter. This move now sees Van Eck Associates Corp selling -11,675,056 shares in the last quarter, thus it now holds 55,453,142 shares of IAG, with a total valuation of $187,431,620. Donald Smith Co Inc meanwhile sold more IAG shares in the recently filed quarter, changing its stake to $97,417,501 worth of shares. Renaissance Technologies LLC followed the path by increasing its IAG portfolio by +5.00% in the quarter. This means that Renaissance Technologies LLC bought 1,102,400 shares in the last quarter and now controls 23,141,496 shares of the IAG stock, with the valuation hitting $78,218,256.

Similarly, The Vanguard Group Inc increased its IAMGOLD Corporation shares by +1.04% during the recently filed quarter. After buying 123,851 shares in the last quarter, the firm now controls 12,031,387 shares of IAMGOLD Corporation which are valued at $40,666,088. In the same vein, Tocqueville Asset Management LP increased its IAMGOLD Corporation shares by during the most recent reported quarter. The firm bought 3,540,900 shares during the quarter which increased its stakes to 11,820,300 shares and is now valued at $39,952,614. Following these latest developments, around 1.70% of IAMGOLD Corporation stocks are owned by institutional investors and hedge funds.