FY2024 Earnings Forecast for IAMGOLD Issued By Raymond James

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Stock analysts at Raymond James dropped their FY2024 earnings estimates for shares of IAMGOLD in a note issued to investors on Monday, February 3rd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings per share of $0.61 for the year, down from their previous forecast of $0.63. Raymond James has a “Hold” rating on the stock. The consensus estimate for IAMGOLD’s current full-year earnings is $0.58 per share. Raymond James also issued estimates for IAMGOLD’s Q4 2024 earnings at $0.16 EPS.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its earnings results on Thursday, November 7th. The mining company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. The business had revenue of $438.90 million for the quarter. IAMGOLD had a return on equity of 10.01% and a net margin of 49.56%. During the same quarter last year, the firm posted ($0.01) EPS.

Several other equities research analysts also recently weighed in on IAG. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating and increased their price objective for the company from $7.75 to $10.50 in a report on Tuesday, October 22nd. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. National Bank Financial upgraded shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $6.00 target price on shares of IAMGOLD in a report on Tuesday, October 22nd. Finally, Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.57.

IAMGOLD Trading Down 0.4 %

NYSE:IAG opened at $6.46 on Thursday. The company has a market capitalization of $3.69 billion, a PE ratio of 5.04 and a beta of 1.56. IAMGOLD has a 52-week low of $2.32 and a 52-week high of $6.64. The stock’s 50 day moving average price is $5.57 and its 200 day moving average price is $5.22. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24.

Institutional Investors Weigh In On IAMGOLD

A number of hedge funds have recently added to or reduced their stakes in IAG. CIBC Asset Management Inc raised its stake in shares of IAMGOLD by 0.4% during the 4th quarter. CIBC Asset Management Inc now owns 700,955 shares of the mining company’s stock worth $3,615,000 after buying an additional 2,848 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in IAMGOLD by 12.7% in the fourth quarter. Bank of New York Mellon Corp now owns 35,046 shares of the mining company’s stock valued at $181,000 after acquiring an additional 3,961 shares during the period. Tobam purchased a new stake in shares of IAMGOLD during the 4th quarter worth $25,000. Blue Trust Inc. increased its holdings in shares of IAMGOLD by 157.1% in the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock valued at $47,000 after purchasing an additional 5,511 shares in the last quarter. Finally, ORG Partners LLC acquired a new stake in shares of IAMGOLD in the third quarter valued at about $29,000. Institutional investors and hedge funds own 47.08% 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.