Cormark Has Positive Estimate for IAMGOLD FY2024 Earnings

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Stock analysts at Cormark increased their FY2024 earnings estimates for IAMGOLD in a research report issued on Monday, November 11th. Cormark analyst R. Gray now forecasts that the mining company will post earnings per share of $0.86 for the year, up from their previous forecast of $0.68. The consensus estimate for IAMGOLD’s current full-year earnings is $1.11 per share. Cormark also issued estimates for IAMGOLD’s FY2026 earnings at $1.90 EPS.

A number of other brokerages have also recently weighed in on IMG. Stifel Nicolaus lifted their price objective on IAMGOLD from C$6.00 to C$9.00 in a research note on Monday, October 21st. National Bankshares boosted their price target on shares of IAMGOLD from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. National Bank Financial raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Royal Bank of Canada downgraded shares of IAMGOLD from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Finally, Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$7.29.

IAMGOLD Stock Performance

TSE:IMG opened at C$6.99 on Thursday. The stock has a market capitalization of C$3.99 billion, a P/E ratio of 22.25, a PEG ratio of -0.28 and a beta of 1.47. The company has a debt-to-equity ratio of 35.17, a quick ratio of 1.19 and a current ratio of 1.34. IAMGOLD has a fifty-two week low of C$2.87 and a fifty-two week high of C$8.80. The company has a 50 day moving average price of C$7.23 and a 200 day moving average price of C$6.18.

Insider Buying and Selling at IAMGOLD

In related news, Senior Officer Bruno Lemelin sold 14,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of C$7.09, for a total transaction of C$99,206.80. In related news, Director Renaud Adams purchased 36,000 shares of IAMGOLD stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average cost of C$6.95 per share, with a total value of C$250,102.80. Also, Senior Officer Bruno Lemelin sold 14,000 shares of IAMGOLD stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of C$7.09, for a total value of C$99,206.80. Insiders own 0.10% 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.