IAMGOLD Co. (NYSE:IAG) Forecasted to Earn FY2024 Earnings of $0.66 Per Share

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Research analysts at National Bank Financial raised their FY2024 earnings per share estimates for IAMGOLD in a research report issued to clients and investors on Wednesday, October 9th. National Bank Financial analyst M. Parkin now expects that the mining company will earn $0.66 per share for the year, up from their prior forecast of $0.52. National Bank Financial currently has a “Outperform” rating on the stock. The consensus estimate for IAMGOLD’s current full-year earnings is $0.49 per share. National Bank Financial also issued estimates for IAMGOLD’s FY2025 earnings at $0.99 EPS and FY2026 earnings at $1.20 EPS.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.08. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. The business had revenue of $385.30 million during the quarter. During the same quarter last year, the company posted ($0.01) EPS.

Other research analysts also recently issued research reports about the company. StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th. CIBC increased their price target on IAMGOLD from $4.90 to $5.40 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, Scotiabank increased their price target on IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, IAMGOLD presently has an average rating of “Hold” and an average price target of $4.73.

IAMGOLD Stock Down 0.4 %

Shares of NYSE:IAG opened at $4.83 on Monday. The company has a market capitalization of $2.75 billion, a PE ratio of 17.25 and a beta of 1.59. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.34 and a quick ratio of 0.90. The business has a fifty day moving average price of $4.96 and a two-hundred day moving average price of $4.24. IAMGOLD has a 1 year low of $2.11 and a 1 year high of $5.60.

Institutional Investors Weigh In On IAMGOLD

A number of large investors have recently made changes to their positions in IAG. ORG Partners LLC purchased a new position in IAMGOLD during the third quarter valued at $29,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in IAMGOLD by 3.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company’s stock valued at $1,154,000 after buying an additional 8,972 shares during the last quarter. Continuum Advisory LLC raised its stake in IAMGOLD by 92.9% during the second quarter. Continuum Advisory LLC now owns 20,450 shares of the mining company’s stock valued at $77,000 after buying an additional 9,850 shares during the last quarter. TIAA Trust National Association purchased a new position in IAMGOLD during the second quarter valued at $38,000. Finally, WINTON GROUP Ltd purchased a new position in IAMGOLD during the second quarter valued at $52,000. 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.