Cormark Issues Optimistic Forecast for IAMGOLD Earnings

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Equities researchers at Cormark boosted their Q4 2024 earnings per share estimates for IAMGOLD in a research report issued on Thursday, October 24th. Cormark analyst R. Gray now forecasts that the mining company will earn $0.21 per share for the quarter, up from their prior estimate of $0.15. The consensus estimate for IAMGOLD’s current full-year earnings is $1.11 per share.

IMG has been the subject of several other research reports. National Bank Financial raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus raised their target price on shares of IAMGOLD from C$6.00 to C$9.00 in a research note on Monday, October 21st. National Bankshares lifted their price target on shares of IAMGOLD from C$11.00 to C$12.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada cut shares of IAMGOLD from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, IAMGOLD has a consensus rating of “Buy” and a consensus target price of C$6.91.

IAMGOLD Trading Down 2.4 %

Shares of IMG stock opened at C$7.84 on Monday. IAMGOLD has a 1 year low of C$2.87 and a 1 year high of C$8.80. The firm has a fifty day moving average price of C$7.08 and a 200-day moving average price of C$5.96. The company has a market cap of C$4.47 billion, a price-to-earnings ratio of 24.50, a PEG ratio of -0.28 and a beta of 1.47. The company has a debt-to-equity ratio of 35.17, a current ratio of 1.34 and a quick ratio of 1.19.

IAMGOLD (TSE:IMG) (NYSE:IAG) last released its quarterly earnings results on Thursday, August 8th. The mining company reported C$0.22 EPS for the quarter, beating the consensus estimate of C$0.12 by C$0.10. IAMGOLD had a net margin of 10.36% and a return on equity of 5.86%. The firm had revenue of C$527.18 million during the quarter.

Insiders Place Their Bets

In related news, Senior Officer Bruno Lemelin sold 14,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of C$7.09, for a total transaction of C$99,206.80. 0.10% of the stock is currently owned by corporate insiders.

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.