Cormark Weighs in on IAMGOLD’s Q4 Earnings (NYSE:IAG)

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Equities research analysts at Cormark increased their Q4 2024 earnings per share estimates for shares of IAMGOLD in a report released on Thursday, October 17th. Cormark analyst R. Gray now anticipates that the mining company will earn $0.11 per share for the quarter, up from their prior estimate of $0.10. The consensus estimate for IAMGOLD’s current full-year earnings is $0.49 per share.

IAG has been the subject of a number of other reports. CIBC lifted their price objective on shares of IAMGOLD from $4.90 to $5.40 and gave the company a “neutral” rating in a report on Monday, August 12th. StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. Scotiabank increased their price objective on IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. Finally, National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $4.73.

IAMGOLD Stock Performance

Shares of IAG stock opened at $6.15 on Monday. The company has a current ratio of 1.34, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30. The firm has a fifty day simple moving average of $5.12 and a two-hundred day simple moving average of $4.32. IAMGOLD has a 12 month low of $2.11 and a 12 month high of $6.27. The firm has a market capitalization of $3.50 billion, a PE ratio of 21.96 and a beta of 1.59.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Thursday, August 8th. The mining company reported $0.16 EPS for the quarter, beating 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 firm had revenue of $385.30 million during the quarter. During the same quarter in the prior year, the firm earned ($0.01) EPS.

Hedge Funds Weigh In On IAMGOLD

Several hedge funds have recently modified their holdings of IAG. Helikon Investments Ltd grew its holdings in shares of IAMGOLD by 250.5% in the first quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock valued at $109,429,000 after acquiring an additional 23,485,183 shares in the last quarter. Van ECK Associates Corp boosted its position in IAMGOLD by 8.2% in the first quarter. Van ECK Associates Corp now owns 52,053,035 shares of the mining company’s stock worth $173,340,000 after purchasing an additional 3,935,250 shares during the last quarter. BNP Paribas Financial Markets boosted its position in IAMGOLD by 326.7% in the first quarter. BNP Paribas Financial Markets now owns 609,440 shares of the mining company’s stock worth $2,029,000 after purchasing an additional 466,620 shares during the last quarter. Headlands Technologies LLC bought a new position in IAMGOLD in the 1st quarter valued at $389,000. Finally, Vanguard Group Inc. increased its position in shares of IAMGOLD by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock valued at $58,871,000 after purchasing an additional 168,302 shares during the last quarter. 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.