IAMGOLD FY2024 EPS Lowered by National Bank Financial

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Equities research analysts at National Bank Financial dropped their FY2024 earnings per share (EPS) estimates for IAMGOLD in a research note issued on Monday, February 10th. National Bank Financial analyst M. Parkin now forecasts that the mining company will post earnings of $0.56 per share for the year, down from their previous estimate of $0.57. The consensus estimate for IAMGOLD’s current full-year earnings is $0.57 per share. National Bank Financial also issued estimates for IAMGOLD’s Q4 2024 earnings at $0.12 EPS.

Several other brokerages have also issued reports on IAG. CIBC upgraded IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and upped their price target for the company from $7.75 to $10.50 in a report on Tuesday, October 22nd. Raymond James upgraded shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, February 3rd. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Finally, Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, IAMGOLD presently has an average rating of “Moderate Buy” and a consensus target price of $6.57.

IAMGOLD Stock Down 1.0 %

Shares of IAMGOLD stock opened at $6.39 on Wednesday. The company has a market capitalization of $3.65 billion, a P/E ratio of 4.99 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. The business has a 50-day moving average of $5.63 and a two-hundred day moving average of $5.28. IAMGOLD has a 1 year low of $2.32 and a 1 year high of $6.64.

Hedge Funds Weigh In On IAMGOLD

Large investors have recently modified their holdings of the business. Van ECK Associates Corp increased its position in shares of IAMGOLD by 8.8% in the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock valued at $276,639,000 after acquiring an additional 4,267,084 shares during the last quarter. Vanguard Group Inc. grew its stake in IAMGOLD by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 21,232,871 shares of the mining company’s stock valued at $109,741,000 after purchasing an additional 321,458 shares in the last quarter. American Century Companies Inc. increased its position in shares of IAMGOLD by 25.9% during the 4th quarter. American Century Companies Inc. now owns 10,162,314 shares of the mining company’s stock worth $52,499,000 after purchasing an additional 2,092,803 shares during the last quarter. Two Sigma Advisers LP raised its stake in shares of IAMGOLD by 58.8% during the 3rd quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company’s stock worth $52,735,000 after purchasing an additional 3,732,315 shares in the last quarter. Finally, FMR LLC raised its stake in shares of IAMGOLD by 107.9% during the 3rd quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock worth $46,174,000 after purchasing an additional 4,577,599 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

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.