Raymond James Has Strong Forecast for IAMGOLD Q4 Earnings

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Research analysts at Raymond James upped their Q4 2024 earnings per share (EPS) estimates for IAMGOLD in a note issued to investors on Thursday, October 17th. Raymond James analyst F. Hamed now expects that the mining company will earn $0.20 per share for the quarter, up from their prior estimate of $0.18. The consensus estimate for IAMGOLD’s current full-year earnings is $0.49 per share.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its earnings results 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 return on equity of 6.70% and a net margin of 10.36%. The business had revenue of $385.30 million during the quarter. During the same quarter in the previous year, the company posted ($0.01) earnings per share.

Several other analysts have also recently commented on the company. StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. National Bank Financial upgraded IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Scotiabank raised their target price on IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a report on Monday, August 19th. Royal Bank of Canada restated a “sector perform” rating and set a $6.00 target price on shares of IAMGOLD in a report on Tuesday. Finally, CIBC lifted their price objective on IAMGOLD from $5.40 to $6.40 and gave the company a “neutral” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.07.

IAMGOLD Stock Performance

Shares of NYSE:IAG opened at $6.11 on Monday. The business’s fifty day moving average price is $5.15 and its two-hundred day moving average price is $4.34. IAMGOLD has a fifty-two week low of $2.11 and a fifty-two week high of $6.37. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 21.82 and a beta of 1.59. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.34 and a quick ratio of 0.90.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IAG. ORG Partners LLC acquired a new position in shares of IAMGOLD during the 3rd quarter worth approximately $29,000. Eastern Bank acquired a new position in shares of IAMGOLD during the 3rd quarter worth approximately $30,000. TIAA Trust National Association acquired a new position in shares of IAMGOLD during the 2nd quarter worth approximately $38,000. Cetera Advisors LLC acquired a new position in shares of IAMGOLD during the 1st quarter worth approximately $50,000. Finally, WINTON GROUP Ltd acquired a new position in shares of IAMGOLD during the 2nd quarter worth approximately $52,000. 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.