National Bank Financial Forecasts Lower Earnings for IAMGOLD

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Stock analysts at National Bank Financial lowered their FY2024 earnings estimates for IAMGOLD in a research report issued on Tuesday, January 14th. National Bank Financial analyst M. Parkin now forecasts that the mining company will post earnings per share of $0.57 for the year, down from their previous forecast of $0.66. National Bank Financial has a “Outperform” rating on the stock. The consensus estimate for IAMGOLD’s current full-year earnings is $0.60 per share. National Bank Financial also issued estimates for IAMGOLD’s FY2025 earnings at $0.79 EPS.

Several other equities analysts have also issued reports on IAG. StockNews.com lowered IAMGOLD from a “buy” rating to a “hold” rating in a research note on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and set a $6.00 price target on shares of IAMGOLD in a research report on Tuesday, October 22nd. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. CIBC upgraded shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. Finally, Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and boosted their price target for the stock from $7.75 to $10.50 in a research note on Tuesday, October 22nd. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $6.57.

IAMGOLD Stock Up 2.7 %

NYSE:IAG opened at $5.60 on Friday. IAMGOLD has a 52 week low of $2.23 and a 52 week high of $6.37. The stock’s fifty day moving average is $5.39 and its two-hundred day moving average is $5.04. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 4.37 and a beta of 1.56. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24.

Hedge Funds Weigh In On IAMGOLD

Several large investors have recently bought and sold shares of IAG. ORG Partners LLC acquired a new position in shares of IAMGOLD during the 3rd quarter worth about $29,000. Eastern Bank purchased a new stake in IAMGOLD during the third quarter worth approximately $30,000. WINTON GROUP Ltd acquired a new position in IAMGOLD in the second quarter valued at approximately $52,000. Flow Traders U.S. LLC acquired a new position in IAMGOLD in the third quarter valued at approximately $93,000. Finally, Verition Fund Management LLC purchased a new position in IAMGOLD in the third quarter valued at approximately $114,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

IAMGOLD Company Profile

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.