IAMGOLD FY2024 EPS Lowered by National Bank Financial

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Equities research analysts at National Bank Financial reduced their FY2024 earnings per share (EPS) estimates for shares of IAMGOLD in a report issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now forecasts that the mining company will earn $0.87 per share for the year, down from their prior forecast of $0.90. 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 $1.23 EPS.

Several other research analysts have also recently commented on IMG. Stifel Nicolaus boosted their price target on IAMGOLD from C$6.00 to C$9.00 in a research note on Monday, October 21st. Royal Bank of Canada lowered IAMGOLD from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, September 10th. National Bankshares increased their target price on IAMGOLD from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$6.91.

IAMGOLD Stock Performance

TSE:IMG opened at C$8.03 on Friday. The firm has a 50-day moving average of C$7.08 and a two-hundred day moving average of C$5.96. The company has a debt-to-equity ratio of 35.17, a current ratio of 1.34 and a quick ratio of 1.19. The stock has a market cap of C$4.58 billion, a P/E ratio of 25.09, a PEG ratio of -0.28 and a beta of 1.47. IAMGOLD has a 1-year low of C$2.87 and a 1-year high of C$8.80.

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

Insider Activity

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