What is Scotiabank’s Forecast for IAMGOLD FY2024 Earnings?

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Stock analysts at Scotiabank boosted their FY2024 earnings per share estimates for shares of IAMGOLD in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now forecasts that the mining company will post earnings per share of $0.78 for the year, up from their prior forecast of $0.61. The consensus estimate for IAMGOLD’s current full-year earnings is $1.11 per share. Scotiabank also issued estimates for IAMGOLD’s FY2025 earnings at $0.92 EPS and FY2026 earnings at $0.78 EPS.

Other research analysts also recently issued research reports about the company. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus upped their price target on shares of IAMGOLD from C$6.00 to C$9.00 in a report on Monday, October 21st. National Bankshares reduced their price target on shares of IAMGOLD from C$12.50 to C$12.00 and set an “outperform” rating on the stock in a research report on Thursday. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, National Bank Financial upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$8.30.

IAMGOLD Stock Performance

TSE:IMG opened at C$8.18 on Monday. The company has a market cap of C$4.67 billion, a price-to-earnings ratio of 25.56, a PEG ratio of -0.28 and a beta of 1.47. IAMGOLD has a fifty-two week low of C$3.00 and a fifty-two week high of C$8.80. The company has a debt-to-equity ratio of 35.17, a quick ratio of 1.19 and a current ratio of 1.34. The stock has a fifty day moving average price of C$7.60 and a 200-day moving average price of C$6.87.

Insider Buying and Selling

In other news, Senior Officer Stephen Eddy sold 16,100 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of C$7.80, for a total value of C$125,580.00. Also, Senior Officer Timothy Bradburn sold 16,800 shares of IAMGOLD stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of C$8.10, for a total transaction of C$136,080.00. 0.10% of the stock is owned by corporate insiders.

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.