Stifel Canada Analysts Reduce Earnings Estimates for IAMGOLD

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Equities research analysts at Stifel Canada reduced their Q4 2024 EPS estimates for IAMGOLD in a research note issued to investors on Tuesday, February 4th. Stifel Canada analyst I. Rico now anticipates that the mining company will post earnings per share of $0.16 for the quarter, down from their previous estimate of $0.20. The consensus estimate for IAMGOLD’s current full-year earnings is $0.58 per share.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, November 7th. The mining company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. IAMGOLD had a return on equity of 10.01% and a net margin of 49.56%. The business had revenue of $438.90 million during the quarter. During the same quarter in the prior year, the firm earned ($0.01) earnings per share.

IAG has been the topic of several other research reports. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. CIBC upgraded IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. StockNews.com raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Thursday. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $6.00 target price on shares of IAMGOLD in a research note on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, IAMGOLD presently has an average rating of “Moderate Buy” and an average price target of $6.57.

IAMGOLD Trading Down 0.4 %

Shares of IAMGOLD stock opened at $6.46 on Thursday. IAMGOLD has a 1-year low of $2.32 and a 1-year high of $6.64. The company’s fifty day simple moving average is $5.57 and its 200-day simple moving average is $5.22. The stock has a market capitalization of $3.69 billion, a PE ratio of 5.04 and a beta of 1.56. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61.

Hedge Funds Weigh In On IAMGOLD

A number of large investors have recently added to or reduced their stakes in IAG. CIBC Asset Management Inc grew its stake in shares of IAMGOLD by 0.4% during the fourth quarter. CIBC Asset Management Inc now owns 700,955 shares of the mining company’s stock worth $3,615,000 after acquiring an additional 2,848 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of IAMGOLD by 12.7% during the 4th quarter. Bank of New York Mellon Corp now owns 35,046 shares of the mining company’s stock worth $181,000 after purchasing an additional 3,961 shares during the period. Tobam acquired a new position in shares of IAMGOLD in the fourth quarter worth about $25,000. Blue Trust Inc. increased its position in shares of IAMGOLD by 157.1% in the fourth quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock valued at $47,000 after buying an additional 5,511 shares in the last quarter. Finally, ORG Partners LLC acquired a new stake in shares of IAMGOLD in the third quarter valued at about $29,000. 47.08% of the stock is currently owned by 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.