Cormark Has Optimistic Outlook of IAMGOLD Q4 Earnings

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Analysts at Cormark boosted their Q4 2024 earnings per share (EPS) estimates for shares of IAMGOLD in a research report issued on Thursday, October 24th. Cormark analyst R. Gray now forecasts that the mining company will post earnings of $0.21 per share for the quarter, up from their previous estimate of $0.15. The consensus estimate for IAMGOLD’s current full-year earnings is $1.11 per share.

Several other brokerages also recently weighed in on IMG. National Bankshares increased their price target on IAMGOLD from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. National Bank Financial raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada downgraded IAMGOLD from a “moderate buy” rating to a “hold” rating in a report on Tuesday, September 10th. Stifel Nicolaus raised their price objective on shares of IAMGOLD from C$6.00 to C$9.00 in a research note on Monday, October 21st. 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 issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$6.91.

IAMGOLD Stock Up 2.3 %

TSE:IMG opened at C$8.02 on Monday. 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 company’s fifty day moving average price is C$7.13 and its 200-day moving average price is C$6.00. IAMGOLD has a 1-year low of C$2.87 and a 1-year high of C$8.80. The firm has a market capitalization of C$4.57 billion, a P/E ratio of 25.06, a PEG ratio of -0.28 and a beta of 1.47.

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

Insider Transactions at IAMGOLD

In other news, Senior Officer Bruno Lemelin sold 14,000 shares of the stock in a transaction that occurred 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. Corporate insiders own 0.10% 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.