What is Scotiabank’s Estimate for IAMGOLD FY2024 Earnings?

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Stock analysts at Scotiabank raised their FY2024 earnings estimates for shares of IAMGOLD in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the mining company will earn $0.54 per share for the year, up from their prior forecast of $0.45. The consensus estimate for IAMGOLD’s current full-year earnings is $0.58 per share.

Other equities analysts have also issued reports about the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $6.00 price objective on shares of IAMGOLD in a research report on Tuesday, October 22nd. StockNews.com downgraded shares of IAMGOLD from a “buy” rating to a “hold” rating in a research note on Wednesday, January 1st. National Bank Financial raised shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. CIBC raised shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. Finally, Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, IAMGOLD presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.68.

IAMGOLD Stock Up 0.4 %

IAG opened at $5.67 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The business’s fifty day simple moving average is $5.37 and its 200 day simple moving average is $4.97. IAMGOLD has a 52 week low of $2.23 and a 52 week high of $6.37. The stock has a market cap of $3.24 billion, a PE ratio of 4.43 and a beta of 1.56.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. ORG Partners LLC bought a new stake in shares of IAMGOLD in the 3rd quarter worth approximately $29,000. Eastern Bank purchased a new stake in IAMGOLD in the third quarter worth $30,000. Aigen Investment Management LP boosted its holdings in IAMGOLD by 10.6% in the third quarter. Aigen Investment Management LP now owns 70,244 shares of the mining company’s stock valued at $368,000 after acquiring an additional 6,704 shares in the last quarter. Geode Capital Management LLC increased its position in IAMGOLD by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company’s stock valued at $1,392,000 after purchasing an additional 6,874 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in IAMGOLD by 3.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company’s stock worth $1,154,000 after purchasing an additional 8,972 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

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.