Brokers Issue Forecasts for IAMGOLD Q3 Earnings

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – National Bank Financial issued their Q3 2024 earnings estimates for shares of IAMGOLD in a report issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin forecasts that the mining company will earn $0.13 per share for the quarter. 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.

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

A number of other equities research analysts also recently commented on the stock. StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $6.00 target price on shares of IAMGOLD in a research report on Tuesday. CIBC increased their target price on shares of IAMGOLD from $5.40 to $6.40 and gave the company a “neutral” rating in a research report on Tuesday. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Scotiabank increased their target price on shares of IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.07.

IAMGOLD Trading Up 1.1 %

Shares of NYSE:IAG opened at $6.00 on Thursday. IAMGOLD has a 52 week low of $2.11 and a 52 week high of $6.37. The company’s 50 day moving average is $5.19 and its two-hundred day moving average is $4.36. 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 company has a market cap of $3.41 billion, a PE ratio of 21.41 and a beta of 1.59.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of IAG. ORG Partners LLC purchased a new position in IAMGOLD during the 3rd quarter worth $29,000. Eastern Bank purchased a new position in IAMGOLD during the 3rd quarter worth $30,000. TIAA Trust National Association purchased a new position in IAMGOLD during the 2nd quarter worth $38,000. Cetera Advisors LLC purchased a new position in IAMGOLD during the 1st quarter worth $50,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of IAMGOLD in the 2nd quarter worth $52,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

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.