Equities Analysts Offer Predictions for IAMGOLD Q4 Earnings

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Analysts at Raymond James raised their Q4 2024 earnings per share (EPS) estimates for shares of IAMGOLD in a report released on Tuesday, January 14th. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings per share of $0.18 for the quarter, up from their previous forecast of $0.16. Raymond James currently has a “Underperform” rating and a $6.00 price objective on the stock. The consensus estimate for IAMGOLD’s current full-year earnings is $0.60 per share. Raymond James also issued estimates for IAMGOLD’s Q1 2025 earnings at $0.20 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at $0.20 EPS and FY2025 earnings at $0.79 EPS.

A number of other equities analysts have also recently commented on IAG. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. CIBC upgraded shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 target price on shares of IAMGOLD in a research note on Tuesday, October 22nd. National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Finally, Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, IAMGOLD presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.57.

IAMGOLD Stock Up 2.7 %

IAG stock opened at $5.60 on Friday. The company’s 50 day moving average is $5.39 and its 200 day moving average is $5.03. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 4.37 and a beta of 1.56. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. IAMGOLD has a 1-year low of $2.23 and a 1-year high of $6.37.

Hedge Funds Weigh In On IAMGOLD

A number of large investors have recently bought and sold shares of the stock. Millennium Management LLC boosted its stake in shares of IAMGOLD by 194.2% during the second quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company’s stock valued at $29,573,000 after purchasing an additional 5,204,715 shares during the period. FMR LLC raised its holdings in IAMGOLD by 107.9% during the 3rd quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock valued at $46,174,000 after buying an additional 4,577,599 shares during the last quarter. Van ECK Associates Corp boosted its position in IAMGOLD by 8.8% during the 3rd quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock valued at $276,639,000 after buying an additional 4,267,084 shares during the period. Two Sigma Advisers LP grew its holdings in IAMGOLD by 58.8% in the 3rd quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company’s stock worth $52,735,000 after acquiring an additional 3,732,315 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of IAMGOLD by 130.6% in the third quarter. Bank of Montreal Can now owns 5,384,778 shares of the mining company’s stock valued at $28,385,000 after acquiring an additional 3,049,252 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.