FY2024 Earnings Forecast for IAMGOLD Issued By Scotiabank

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Research analysts at Scotiabank upped their FY2024 earnings per share estimates for IAMGOLD in a research note issued on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now anticipates that the mining company will earn $0.54 per share for the year, up from their prior estimate of $0.45. The consensus estimate for IAMGOLD’s current full-year earnings is $0.58 per share.

Several other research firms have also recently weighed in on IAG. National Bank Financial upgraded IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com lowered IAMGOLD from a “buy” rating to a “hold” rating in a research note on Wednesday, January 1st. CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. Finally, Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, IAMGOLD has an average rating of “Moderate Buy” and a consensus price target of $6.68.

IAMGOLD Stock Up 0.4 %

NYSE IAG opened at $5.67 on Friday. The stock’s 50-day moving average price is $5.37 and its 200-day moving average price is $4.98. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. IAMGOLD has a 52 week low of $2.23 and a 52 week high of $6.37. The company has a market capitalization of $3.24 billion, a P/E ratio of 4.43 and a beta of 1.56.

Hedge Funds Weigh In On IAMGOLD

Several large investors have recently modified their holdings of IAG. BNP Paribas Financial Markets lifted its stake in IAMGOLD by 368.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,521,670 shares of the mining company’s stock worth $7,772,000 after acquiring an additional 1,196,564 shares in the last quarter. Semanteon Capital Management LP purchased a new position in IAMGOLD during the 3rd quarter worth approximately $503,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in IAMGOLD by 158.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company’s stock worth $24,301,000 after buying an additional 2,839,556 shares during the last quarter. Van ECK Associates Corp lifted its position in IAMGOLD by 8.8% during the 3rd quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock worth $276,639,000 after acquiring an additional 4,267,084 shares during the period. Finally, U S Global Investors Inc. lifted its position in IAMGOLD by 241.6% during the 3rd quarter. U S Global Investors Inc. now owns 854,114 shares of the mining company’s stock worth $4,467,000 after acquiring an additional 604,114 shares during the period. 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.