Cormark Brokers Increase Earnings Estimates for IAMGOLD

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Equities research analysts at Cormark lifted their Q4 2024 EPS estimates for IAMGOLD in a research note issued to investors on Thursday, October 17th. Cormark analyst R. Gray now forecasts that the mining company will post earnings of $0.15 per share for the quarter, up from their prior estimate of $0.14. The consensus estimate for IAMGOLD’s current full-year earnings is $1.11 per share.

Other research analysts have also issued research reports about the company. National Bank Financial upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Canaccord Genuity Group boosted their target price on shares of IAMGOLD from C$5.50 to C$6.00 in a report on Tuesday, July 23rd. National Bankshares raised IAMGOLD from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from C$8.50 to C$11.00 in a research note on Thursday, October 10th. Royal Bank of Canada cut shares of IAMGOLD from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Finally, Stifel Nicolaus increased their price objective on shares of IAMGOLD from C$6.00 to C$9.00 in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, IAMGOLD has a consensus rating of “Moderate Buy” and an average price target of C$6.74.

IAMGOLD Stock Performance

TSE IMG opened at C$8.44 on Monday. The company has a debt-to-equity ratio of 35.17, a quick ratio of 1.19 and a current ratio of 1.34. The stock’s fifty day moving average is C$6.97 and its two-hundred day moving average is C$5.89. The firm has a market capitalization of C$4.81 billion, a P/E ratio of 26.38, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47. IAMGOLD has a fifty-two week low of C$2.87 and a fifty-two week high of C$8.80.

IAMGOLD (TSE:IMG) (NYSE:IAG) last issued its earnings results on Thursday, August 8th. The mining company reported C$0.22 earnings per share for the quarter, topping the consensus estimate of C$0.12 by C$0.10. IAMGOLD had a return on equity of 5.86% and a net margin of 10.36%. The business had revenue of C$527.18 million for the quarter.

Insider Transactions at IAMGOLD

In other IAMGOLD 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 value of C$99,206.80. Corporate 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.