Equities Analysts Set Expectations for IAMGOLD Q3 Earnings

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Equities research analysts at Stifel Canada issued their Q3 2024 earnings per share estimates for shares of IAMGOLD in a report issued on Monday, October 21st. Stifel Canada analyst I. Rico expects that the mining company will post earnings of $0.11 per share for the quarter. The consensus estimate for IAMGOLD’s current full-year earnings is $0.49 per share.

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

Other equities research analysts have also issued reports about the company. Scotiabank raised their price target on IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday. National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating and lifted their target price for the company from $7.75 to $10.50 in a research report on Tuesday. Finally, CIBC lifted their target price on IAMGOLD from $5.40 to $6.40 and gave the company a “neutral” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, IAMGOLD has an average rating of “Hold” and a consensus target price of $6.07.

IAMGOLD Price Performance

Shares of IAMGOLD stock opened at $6.00 on Wednesday. IAMGOLD has a one year low of $2.11 and a one year high of $6.37. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.90 and a current ratio of 1.34. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 21.41 and a beta of 1.59. The stock has a 50 day moving average price of $5.19 and a 200-day moving average price of $4.36.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. 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. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in IAMGOLD by 3.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company’s stock worth $1,154,000 after buying an additional 8,972 shares during the last quarter. Continuum Advisory LLC grew its stake in IAMGOLD by 92.9% during the 2nd quarter. Continuum Advisory LLC now owns 20,450 shares of the mining company’s stock worth $77,000 after buying an additional 9,850 shares during the last quarter. Finally, TIAA Trust National Association purchased a new position in IAMGOLD during the 2nd quarter worth $38,000. 47.08% of the stock is owned by institutional investors.

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.