Scotiabank Issues Optimistic Estimate for IAMGOLD Earnings

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Investment analysts at Scotiabank lifted their FY2024 EPS estimates for shares of IAMGOLD in a report released on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now forecasts that the mining company will post earnings per share of $0.78 for the year, up from their previous estimate of $0.61. The consensus estimate for IAMGOLD’s current full-year earnings is $1.11 per share. Scotiabank also issued estimates for IAMGOLD’s FY2025 earnings at $0.92 EPS and FY2026 earnings at $0.78 EPS.

A number of other equities research analysts also recently weighed in on IMG. Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus upped their price objective on IAMGOLD from C$6.00 to C$9.00 in a report on Monday, October 21st. National Bank Financial upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, National Bankshares lowered their price target on IAMGOLD from C$12.50 to C$12.00 and set an “outperform” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, IAMGOLD presently has a consensus rating of “Buy” and an average target price of C$8.30.

IAMGOLD Stock Performance

Shares of IAMGOLD stock opened at C$8.18 on Monday. The firm has a 50 day simple moving average of C$7.60 and a 200 day simple moving average of C$6.87. IAMGOLD has a fifty-two week low of C$3.00 and a fifty-two week high of C$8.80. The company has a debt-to-equity ratio of 35.17, a current ratio of 1.34 and a quick ratio of 1.19. The firm has a market cap of C$4.67 billion, a P/E ratio of 25.56, a P/E/G ratio of -0.28 and a beta of 1.47.

Insider Activity at IAMGOLD

In other IAMGOLD news, Senior Officer Stephen Eddy sold 16,100 shares of IAMGOLD stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of C$7.80, for a total transaction of C$125,580.00. Also, Senior Officer Timothy Bradburn sold 16,800 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of C$8.10, for a total transaction of C$136,080.00. 0.10% of the stock is 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.