What is Cormark’s Forecast for IAMGOLD FY2024 Earnings?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Equities research analysts at Cormark upped their FY2024 earnings estimates for shares of IAMGOLD in a research report issued to clients and investors on Monday, November 11th. Cormark analyst R. Gray now anticipates that the mining company will post earnings of $0.86 per share for the year, up from their prior forecast of $0.68. The consensus estimate for IAMGOLD’s current full-year earnings is $1.11 per share. Cormark also issued estimates for IAMGOLD’s FY2026 earnings at $1.90 EPS.

Several other equities research analysts also recently commented on the company. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. National Bankshares lifted their price target on shares of IAMGOLD from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. National Bank Financial upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. Stifel Nicolaus raised their target price on shares of IAMGOLD from C$6.00 to C$9.00 in a report on Monday, October 21st. Finally, Royal Bank of Canada lowered 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, two have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$7.29.

IAMGOLD Stock Up 0.3 %

IAMGOLD stock opened at C$7.01 on Thursday. IAMGOLD has a 12 month low of C$2.87 and a 12 month high of C$8.80. The stock has a fifty day simple moving average of C$7.24 and a two-hundred day simple moving average of C$6.19. The company has a current ratio of 1.34, a quick ratio of 1.19 and a debt-to-equity ratio of 35.17. The firm has a market cap of C$4.00 billion, a price-to-earnings ratio of 21.91, a PEG ratio of -0.28 and a beta of 1.47.

Insider Activity at IAMGOLD

In related news, Director Renaud Adams bought 36,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were bought at an average cost of C$6.95 per share, with a total value of C$250,102.80. Also, Senior Officer Bruno Lemelin sold 14,000 shares of IAMGOLD stock in a transaction on Friday, August 23rd. The shares were sold at an average price of C$7.09, for a total value of C$99,206.80. 0.10% of the stock is currently owned by company insiders.

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.