National Bank Financial Predicts IAMGOLD FY2024 Earnings

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Equities research analysts at National Bank Financial reduced their FY2024 earnings estimates for shares of IAMGOLD in a research report issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now anticipates that the mining company will post earnings of $0.63 per share for the year, down from their previous forecast of $0.66. National Bank Financial currently has a “Outperform” rating on the stock. The consensus estimate for IAMGOLD’s current full-year earnings is $0.51 per share. National Bank Financial also issued estimates for IAMGOLD’s FY2025 earnings at $0.89 EPS.

Other analysts also recently issued reports about the stock. CIBC boosted their target price on shares of IAMGOLD from $5.40 to $6.40 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and upped their price objective for the stock from $7.75 to $10.50 in a report on Tuesday, October 22nd. Scotiabank raised their target price on IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a report on Monday, August 19th. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 price objective on shares of IAMGOLD in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.07.

IAMGOLD Trading Down 3.7 %

Shares of NYSE IAG opened at $5.77 on Friday. The business has a 50 day simple moving average of $5.20 and a 200 day simple moving average of $4.38. IAMGOLD has a 52 week low of $2.11 and a 52 week high of $6.37. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 23.08 and a beta of 1.59. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.90 and a current ratio of 1.34.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its earnings results on Thursday, August 8th. The mining company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. The firm had revenue of $385.30 million for the quarter. During the same quarter last year, the firm earned ($0.01) EPS.

Hedge Funds Weigh In On IAMGOLD

A number of institutional investors have recently made changes to their positions in IAG. ORG Partners LLC acquired a new position in IAMGOLD during the 3rd quarter valued at $29,000. Eastern Bank bought a new position in IAMGOLD during the third quarter valued at about $30,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in IAMGOLD by 3.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company’s stock valued at $1,154,000 after acquiring an additional 8,972 shares during the period. Continuum Advisory LLC raised its holdings in IAMGOLD by 92.9% in the 2nd quarter. Continuum Advisory LLC now owns 20,450 shares of the mining company’s stock valued at $77,000 after acquiring an additional 9,850 shares in the last quarter. Finally, TIAA Trust National Association bought a new stake in shares of IAMGOLD in the 2nd quarter worth approximately $38,000. 47.08% of the stock is currently owned by institutional investors.

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.