Cormark Has Negative Outlook of IAMGOLD FY2024 Earnings

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Cormark dropped their FY2024 earnings per share estimates for shares of IAMGOLD in a note issued to investors on Wednesday, January 15th. Cormark analyst R. Gray now anticipates that the mining company will post earnings of $0.82 per share for the year, down from their prior estimate of $0.86. The consensus estimate for IAMGOLD’s current full-year earnings is $1.11 per share. Cormark also issued estimates for IAMGOLD’s Q4 2024 earnings at $0.17 EPS, Q1 2025 earnings at $0.17 EPS, Q2 2025 earnings at $0.19 EPS, FY2025 earnings at $0.89 EPS and FY2026 earnings at $1.63 EPS.

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

IAMGOLD Trading Up 3.2 %

Shares of IAMGOLD stock opened at C$8.09 on Monday. IAMGOLD has a 52-week low of C$3.00 and a 52-week high of C$8.80. The stock’s 50-day simple moving average is C$7.65 and its 200 day simple moving average is C$6.97. The stock has a market capitalization of C$4.61 billion, a P/E ratio of 25.28, a P/E/G ratio of -0.28 and a beta of 1.47. The company has a debt-to-equity ratio of 35.17, a quick ratio of 1.19 and a current ratio of 1.34.

Insider Transactions at IAMGOLD

In other IAMGOLD news, Director Renaud Adams acquired 36,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was bought at an average price of C$6.95 per share, with a total value of C$250,102.80. Also, Senior Officer Stephen Eddy sold 16,100 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of C$7.80, for a total value of C$125,580.00. 0.10% of the stock is owned by 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.