FY2024 Earnings Forecast for IAMGOLD Issued By Raymond James

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Equities research analysts at Raymond James reduced their FY2024 earnings estimates for shares of IAMGOLD in a research report issued on Monday, February 3rd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings of $0.61 per share for the year, down from their previous forecast of $0.63. Raymond James currently has a “Hold” rating on the stock. The consensus estimate for IAMGOLD’s current full-year earnings is $0.58 per share. Raymond James also issued estimates for IAMGOLD’s Q4 2024 earnings at $0.16 EPS.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Thursday, November 7th. The mining company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.11 by $0.07. IAMGOLD had a net margin of 49.56% and a return on equity of 10.01%. The business had revenue of $438.90 million for the quarter. During the same quarter in the prior year, the firm earned ($0.01) earnings per share.

Several other equities analysts have 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. 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $6.00 price objective on shares of IAMGOLD in a report on Tuesday, October 22nd. StockNews.com upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Thursday. Finally, CIBC upgraded shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, IAMGOLD presently has an average rating of “Moderate Buy” and an average price target of $6.57.

IAMGOLD Trading Down 0.9 %

IAMGOLD stock opened at $6.41 on Thursday. The company’s fifty day simple moving average is $5.59 and its 200-day simple moving average is $5.23. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. IAMGOLD has a 12 month low of $2.32 and a 12 month high of $6.64. The stock has a market cap of $3.66 billion, a P/E ratio of 5.00 and a beta of 1.56.

Institutional Trading of IAMGOLD

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets increased its holdings in shares of IAMGOLD by 368.1% during the third quarter. BNP Paribas Financial Markets now owns 1,521,670 shares of the mining company’s stock worth $7,772,000 after buying an additional 1,196,564 shares in the last quarter. Semanteon Capital Management LP acquired a new stake in shares of IAMGOLD in the third quarter valued at approximately $503,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of IAMGOLD by 158.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company’s stock valued at $24,301,000 after purchasing an additional 2,839,556 shares in the last quarter. Van ECK Associates Corp increased its holdings 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 purchasing an additional 4,267,084 shares in the last quarter. Finally, U S Global Investors Inc. increased its holdings in shares of IAMGOLD by 241.6% in the third quarter. U S Global Investors Inc. now owns 854,114 shares of the mining company’s stock valued at $4,467,000 after purchasing an additional 604,114 shares in the last quarter. Institutional investors and hedge funds 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.