Raymond James Has Optimistic Outlook of IAMGOLD Q4 Earnings

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Raymond James increased their Q4 2024 earnings per share estimates for IAMGOLD in a report released on Thursday, October 17th. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings per share of $0.27 for the quarter, up from their prior estimate of $0.24. The consensus estimate for IAMGOLD’s current full-year earnings is $1.11 per share.

IMG has been the topic of a number of other research reports. Royal Bank of Canada lowered shares of IAMGOLD from a “moderate buy” rating to a “hold” rating in a report on Tuesday, September 10th. National Bank Financial upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. National Bankshares upgraded IAMGOLD from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from C$8.50 to C$11.00 in a research note on Thursday, October 10th. Finally, Canaccord Genuity Group upped their target price on IAMGOLD from C$5.50 to C$6.00 in a research report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, IAMGOLD presently has an average rating of “Moderate Buy” and an average target price of C$6.12.

IAMGOLD Price Performance

Shares of IMG stock opened at C$8.23 on Monday. The firm has a fifty day simple moving average of C$6.83 and a 200-day simple moving average of C$5.84. The company has a market capitalization of C$4.69 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47. IAMGOLD has a twelve month low of C$2.87 and a twelve month high of C$8.33. The company has a current ratio of 1.34, a quick ratio of 1.19 and a debt-to-equity ratio of 35.17.

IAMGOLD (TSE:IMG) (NYSE:IAG) last issued its quarterly earnings data on Thursday, August 8th. The mining company reported C$0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.12 by C$0.10. The company had revenue of C$527.18 million during the quarter. IAMGOLD had a net margin of 10.36% and a return on equity of 5.86%.

Insider Transactions at IAMGOLD

In related news, Senior Officer Bruno Lemelin sold 14,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of C$7.09, for a total value of C$99,206.80. Corporate insiders own 0.10% of the company’s stock.

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.