Equities Analysts Issue Forecasts for IAMGOLD Co.’s FY2024 Earnings (NYSE:IAG)

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – National Bank Financial increased their FY2024 earnings per share (EPS) estimates for IAMGOLD in a research report issued on Wednesday, October 9th. National Bank Financial analyst M. Parkin now anticipates that the mining company will post earnings of $0.66 per share for the year, up from their previous forecast of $0.52. National Bank Financial has a “Outperform” rating on the stock. The consensus estimate for IAMGOLD’s current full-year earnings is $0.49 per share. National Bank Financial also issued estimates for IAMGOLD’s FY2025 earnings at $0.99 EPS and FY2026 earnings at $1.20 EPS.

A number of other equities research analysts have also weighed in on IAG. CIBC boosted their target price on IAMGOLD from $4.90 to $5.40 and gave the company a “neutral” rating in a research note on Monday, August 12th. StockNews.com upgraded shares of IAMGOLD from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. Finally, Scotiabank lifted their target price on shares of IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, IAMGOLD presently has a consensus rating of “Hold” and an average price target of $4.73.

IAMGOLD Stock Performance

IAMGOLD stock opened at $4.92 on Monday. The firm has a fifty day simple moving average of $5.00 and a two-hundred day simple moving average of $4.26. The company has a quick ratio of 0.90, a current ratio of 1.34 and a debt-to-equity ratio of 0.30. IAMGOLD has a twelve month low of $2.11 and a twelve month high of $5.60. The company has a market capitalization of $2.80 billion, a PE ratio of 17.57 and a beta of 1.59.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.08 by $0.08. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. The firm had revenue of $385.30 million for the quarter. During the same period last year, the business posted ($0.01) earnings per share.

Institutional Trading of IAMGOLD

A number of institutional investors and hedge funds have recently bought and sold shares of IAG. ORG Partners LLC purchased a new stake in shares of IAMGOLD during the third quarter valued at approximately $29,000. TIAA Trust National Association bought a new position in shares of IAMGOLD during the second quarter valued at $38,000. Cetera Advisors LLC purchased a new stake in shares of IAMGOLD during the first quarter valued at $50,000. WINTON GROUP Ltd bought a new stake in IAMGOLD in the 2nd quarter worth about $52,000. Finally, Banque Cantonale Vaudoise purchased a new position in IAMGOLD in the 2nd quarter worth about $56,000. 47.08% of the stock is currently owned by institutional investors.

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.