Q1 2024 EPS Estimates for IAMGOLD Co. (NYSE:IAG) Increased by Analyst

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Raymond James increased their Q1 2024 earnings estimates for shares of IAMGOLD in a report released on Tuesday, April 23rd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings of $0.00 per share for the quarter, up from their previous estimate of ($0.04). The consensus estimate for IAMGOLD’s current full-year earnings is $0.10 per share. Raymond James also issued estimates for IAMGOLD’s Q2 2024 earnings at $0.04 EPS, Q3 2024 earnings at $0.08 EPS, Q4 2024 earnings at $0.10 EPS and FY2024 earnings at $0.23 EPS.

IAG has been the topic of a number of other research reports. Scotiabank lifted their price target on shares of IAMGOLD from $3.25 to $3.75 and gave the company a “sector perform” rating in a report on Thursday, April 18th. BMO Capital Markets lifted their price target on shares of IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a report on Friday, April 5th. CIBC lifted their price target on shares of IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a report on Wednesday, February 7th. StockNews.com upgraded shares of IAMGOLD from a “sell” rating to a “hold” rating in a report on Friday. Finally, National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, IAMGOLD has a consensus rating of “Hold” and an average target price of $3.55.

IAMGOLD Stock Up 3.1 %

IAG stock opened at $3.71 on Friday. The stock has a market capitalization of $1.84 billion, a P/E ratio of 19.53, a PEG ratio of 0.93 and a beta of 1.70. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.77 and a current ratio of 1.19. IAMGOLD has a one year low of $1.99 and a one year high of $3.92. The company has a 50 day moving average price of $3.19 and a two-hundred day moving average price of $2.70.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its earnings results on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm had revenue of $297.60 million during the quarter. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%.

Hedge Funds Weigh In On IAMGOLD

Several hedge funds and other institutional investors have recently made changes to their positions in IAG. SG Americas Securities LLC lifted its holdings in shares of IAMGOLD by 43.7% during the 3rd quarter. SG Americas Securities LLC now owns 404,341 shares of the mining company’s stock valued at $869,000 after acquiring an additional 123,048 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of IAMGOLD during the 3rd quarter valued at $32,000. DORCHESTER WEALTH MANAGEMENT Co lifted its holdings in shares of IAMGOLD by 8.5% during the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 171,800 shares of the mining company’s stock valued at $372,000 after acquiring an additional 13,500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of IAMGOLD by 31.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 98,843 shares of the mining company’s stock valued at $214,000 after acquiring an additional 23,836 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of IAMGOLD by 0.9% during the 3rd quarter. CIBC Asset Management Inc now owns 435,298 shares of the mining company’s stock valued at $942,000 after acquiring an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

About IAMGOLD

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.