Raymond James Has Positive Estimate for IAMGOLD Q4 Earnings

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Analysts at Raymond James boosted their Q4 2024 earnings per share estimates for shares of IAMGOLD in a research report issued to clients and investors on Thursday, October 17th. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings per share of $0.20 for the quarter, up from their previous estimate of $0.18. The consensus estimate for IAMGOLD’s current full-year earnings is $0.49 per share.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.08. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. The company had revenue of $385.30 million during the quarter. During the same quarter last year, the company earned ($0.01) earnings per share.

Other equities analysts have also recently issued research reports about the company. StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. CIBC increased their price objective on IAMGOLD from $4.90 to $5.40 and gave the stock a “neutral” rating in a report on Monday, August 12th. Scotiabank boosted their target price on IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a research note on Monday, August 19th. Finally, National Bank Financial raised shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4.73.

IAMGOLD Trading Up 3.0 %

Shares of NYSE:IAG opened at $6.15 on Monday. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 21.96 and a beta of 1.59. IAMGOLD has a 12 month low of $2.11 and a 12 month high of $6.27. The company’s fifty day simple moving average is $5.12 and its 200 day simple moving average is $4.32. The company has a quick ratio of 0.90, a current ratio of 1.34 and a debt-to-equity ratio of 0.30.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IAG. Helikon Investments Ltd raised its stake in shares of IAMGOLD by 250.5% during the 1st quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock worth $109,429,000 after purchasing an additional 23,485,183 shares in the last quarter. Van ECK Associates Corp raised its position in IAMGOLD by 8.2% during the first quarter. Van ECK Associates Corp now owns 52,053,035 shares of the mining company’s stock worth $173,340,000 after acquiring an additional 3,935,250 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in IAMGOLD by 326.7% in the first quarter. BNP Paribas Financial Markets now owns 609,440 shares of the mining company’s stock valued at $2,029,000 after acquiring an additional 466,620 shares during the last quarter. Headlands Technologies LLC acquired a new stake in IAMGOLD in the first quarter valued at $389,000. Finally, Vanguard Group Inc. grew its position in shares of IAMGOLD by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock valued at $58,871,000 after acquiring an additional 168,302 shares during the period. 47.08% of the stock is owned by institutional investors and hedge funds.

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.