Brokers Issue Forecasts for IAMGOLD’s Q4 Earnings (NYSE:IAG)

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Cormark boosted their Q4 2024 EPS estimates for shares of IAMGOLD in a note issued to investors on Thursday, October 17th. Cormark analyst R. Gray now expects that the mining company will post earnings of $0.11 per share for the quarter, up from their prior forecast of $0.10. The consensus estimate for IAMGOLD’s current full-year earnings is $0.49 per share.

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

A number of other analysts have also commented on IAG. National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Scotiabank lifted their price objective on IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a report on Monday, August 19th. CIBC lifted their price target on shares of IAMGOLD from $4.90 to $5.40 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $4.73.

IAMGOLD Price Performance

Shares of IAG opened at $5.97 on Monday. The company has a market capitalization of $3.40 billion, a P/E ratio of 21.32 and a beta of 1.59. IAMGOLD has a twelve month low of $2.11 and a twelve month high of $6.03. The company has a quick ratio of 0.90, a current ratio of 1.34 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average of $5.09 and a 200 day moving average of $4.30.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC lifted its stake in shares of IAMGOLD by 1,034.3% in the 1st quarter. Virtu Financial LLC now owns 339,792 shares of the mining company’s stock worth $1,132,000 after purchasing an additional 309,836 shares during the period. Helikon Investments Ltd increased its holdings in IAMGOLD by 250.5% during the first quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock valued at $109,429,000 after buying an additional 23,485,183 shares during the last quarter. Headlands Technologies LLC bought a new position in IAMGOLD in the first quarter worth approximately $389,000. BNP Paribas Financial Markets boosted its stake in shares of IAMGOLD by 326.7% during the 1st quarter. BNP Paribas Financial Markets now owns 609,440 shares of the mining company’s stock worth $2,029,000 after acquiring an additional 466,620 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of IAMGOLD by 28.6% during the 2nd quarter. American Century Companies Inc. now owns 5,708,298 shares of the mining company’s stock valued at $21,423,000 after acquiring an additional 1,270,608 shares during the period. 47.08% of the stock is owned by hedge funds and other 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.