Raymond James Upgrades IAMGOLD (NYSE:IAG) to “Hold”

Raymond James upgraded shares of IAMGOLD (NYSE:IAG) (TSE:IMG) from a strong sell rating to a hold rating in a research report released on Monday morning,Zacks.com reports. Raymond James also issued estimates for IAMGOLD’s Q1 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.19 EPS and FY2025 earnings at $0.78 EPS.

Several other brokerages also recently commented on IAG. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Royal Bank of Canada reissued a “sector perform” rating and set a $6.00 price target on shares of IAMGOLD in a research note on Tuesday, October 22nd. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating and raised their price target for the stock from $7.75 to $10.50 in a research note on Tuesday, October 22nd. National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Finally, CIBC raised shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $6.57.

IAMGOLD Stock Performance

NYSE IAG opened at $6.47 on Monday. The company has a market cap of $3.69 billion, a P/E ratio of 5.05 and a beta of 1.56. The business’s 50 day moving average price is $5.55 and its 200-day moving average price is $5.21. IAMGOLD has a fifty-two week low of $2.32 and a fifty-two week high of $6.64. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its earnings results on Thursday, November 7th. The mining company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.07. The business had revenue of $438.90 million for the quarter. IAMGOLD had a net margin of 49.56% and a return on equity of 10.01%. During the same period in the prior year, the company posted ($0.01) EPS. Sell-side analysts predict that IAMGOLD will post 0.58 earnings per share for the current year.

Hedge Funds Weigh In On IAMGOLD

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tobam purchased a new stake in IAMGOLD in the fourth quarter worth about $25,000. ORG Partners LLC bought a new stake in shares of IAMGOLD in the 3rd quarter valued at about $29,000. Eastern Bank bought a new stake in shares of IAMGOLD in the 3rd quarter valued at about $30,000. Blue Trust Inc. lifted its position in shares of IAMGOLD by 157.1% in the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock worth $47,000 after purchasing an additional 5,511 shares during the period. Finally, Raab & Moskowitz Asset Management LLC bought a new position in shares of IAMGOLD during the fourth quarter valued at approximately $56,000. Institutional investors own 47.08% of the company’s stock.

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.