Cormark Has Bullish Forecast for IAMGOLD FY2024 Earnings

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Research analysts at Cormark lifted their FY2024 EPS estimates for shares of IAMGOLD in a research note issued on Monday, November 11th. Cormark analyst R. Gray now expects that the mining company will post earnings of $0.86 per share for the year, up from their prior estimate of $0.68. The consensus estimate for IAMGOLD’s current full-year earnings is $1.11 per share. Cormark also issued estimates for IAMGOLD’s FY2026 earnings at $1.90 EPS.

IMG has been the topic of several other research reports. National Bankshares lifted their target price on IAMGOLD from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. National Bank Financial raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada downgraded shares of IAMGOLD from a “moderate buy” rating to a “hold” rating in a report on Tuesday, September 10th. Stifel Nicolaus raised their target price 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 report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$7.29.

IAMGOLD Price Performance

TSE:IMG opened at C$7.01 on Thursday. The business’s 50-day simple moving average is C$7.24 and its two-hundred day simple moving average is C$6.19. IAMGOLD has a 52 week low of C$2.87 and a 52 week high of C$8.80. The stock has a market cap of C$4.00 billion, a PE ratio of 21.91, a P/E/G ratio of -0.28 and a beta of 1.47. The company has a quick ratio of 1.19, a current ratio of 1.34 and a debt-to-equity ratio of 35.17.

Insiders Place Their Bets

In other IAMGOLD news, Director Renaud Adams bought 36,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was acquired at an average cost of C$6.95 per share, for a total transaction of C$250,102.80. Also, Senior Officer Bruno Lemelin sold 14,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of C$7.09, for a total transaction of C$99,206.80. 0.10% of the stock is owned by 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.