National Bank Financial Predicts Weaker Earnings for IAMGOLD

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Research analysts at National Bank Financial lowered their FY2024 earnings estimates for shares of IAMGOLD in a report released on Tuesday, January 14th. National Bank Financial analyst M. Parkin now anticipates that the mining company will post earnings of $0.82 per share for the year, down from their prior estimate of $0.92. National Bank Financial has a “Strong-Buy” rating on the stock. The consensus estimate for IAMGOLD’s current full-year earnings is $1.11 per share. National Bank Financial also issued estimates for IAMGOLD’s FY2025 earnings at $1.14 EPS and FY2026 earnings at $1.51 EPS.

A number of other research analysts also recently weighed in on IMG. Stifel Nicolaus upped 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 research note on Tuesday, October 22nd. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, National Bankshares reduced their target price on shares of IAMGOLD from C$12.50 to C$12.00 and set an “outperform” rating on the stock in a research report on Thursday, January 9th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$8.30.

IAMGOLD Price Performance

IMG stock opened at C$8.09 on Friday. The company has a debt-to-equity ratio of 35.17, a current ratio of 1.34 and a quick ratio of 1.19. IAMGOLD has a 1 year low of C$3.00 and a 1 year high of C$8.80. The firm has a 50-day moving average of C$7.65 and a 200 day moving average of C$6.94. The company has a market cap of C$4.61 billion, a P/E ratio of 25.28, a PEG ratio of -0.28 and a beta of 1.47.

Insider Buying and Selling

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