National Bank Financial Weighs in on IAMGOLD FY2024 Earnings

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Research analysts at National Bank Financial dropped their FY2024 earnings per share estimates for IAMGOLD in a research report issued on Tuesday, January 14th. National Bank Financial analyst M. Parkin now anticipates that the mining company will post earnings of $0.57 per share for the year, down from their previous estimate of $0.66. National Bank Financial currently has a “Outperform” rating on the stock. The consensus estimate for IAMGOLD’s current full-year earnings is $0.60 per share. National Bank Financial also issued estimates for IAMGOLD’s FY2025 earnings at $0.79 EPS.

Other equities analysts have also issued research reports about the stock. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and lifted their price target for the stock from $7.75 to $10.50 in a report on Tuesday, October 22nd. CIBC upgraded IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $6.00 price objective on shares of IAMGOLD in a research report on Tuesday, October 22nd. Raymond James reduced their target price on IAMGOLD from $6.50 to $6.00 and set an “underperform” rating on the stock in a report on Wednesday. Finally, StockNews.com lowered shares of IAMGOLD from a “buy” rating to a “hold” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, IAMGOLD currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.57.

IAMGOLD Stock Up 2.7 %

NYSE:IAG opened at $5.60 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. IAMGOLD has a one year low of $2.23 and a one year high of $6.37. The firm’s 50 day simple moving average is $5.39 and its 200 day simple moving average is $5.03. The company has a market cap of $3.20 billion, a PE ratio of 4.37 and a beta of 1.56.

Institutional Investors Weigh In On IAMGOLD

A number of hedge funds have recently added to or reduced their stakes in the business. ORG Partners LLC acquired a new stake in shares of IAMGOLD during the 3rd quarter worth approximately $29,000. Eastern Bank acquired a new stake in IAMGOLD in the third quarter worth $30,000. International Assets Investment Management LLC bought a new stake in IAMGOLD in the third quarter valued at $700,000. WINTON GROUP Ltd acquired a new position in shares of IAMGOLD during the second quarter valued at about $52,000. Finally, Flow Traders U.S. LLC bought a new position in shares of IAMGOLD during the 3rd quarter worth about $93,000. 47.08% of the stock is currently owned by institutional investors.

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.