IAMGOLD FY2024 EPS Lowered by National Bank Financial

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Stock analysts at National Bank Financial cut their FY2024 earnings per share estimates for IAMGOLD in a research report issued to clients and investors on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now anticipates that the mining company will post earnings per share of $0.63 for the year, down from their previous estimate of $0.66. National Bank Financial currently has a “Outperform” rating on the stock. The consensus estimate for IAMGOLD’s current full-year earnings is $0.49 per share. National Bank Financial also issued estimates for IAMGOLD’s FY2025 earnings at $0.89 EPS.

Several other equities analysts have also commented on the stock. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and increased their price objective for the company from $7.75 to $10.50 in a research report on Tuesday. Scotiabank lifted their price target on IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. Royal Bank of Canada restated a “sector perform” rating and set a $6.00 price objective on shares of IAMGOLD in a research report on Tuesday. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, CIBC increased their target price on shares of IAMGOLD from $5.40 to $6.40 and gave the company a “neutral” rating in a research note 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.07.

IAMGOLD Stock Up 1.1 %

NYSE IAG opened at $6.00 on Friday. The stock has a 50 day moving average price of $5.19 and a 200-day moving average price of $4.36. 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 company has a market capitalization of $3.41 billion, a P/E ratio of 21.41 and a beta of 1.59.

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

Institutional Investors Weigh In On IAMGOLD

Several large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC grew its stake in IAMGOLD by 1,034.3% in the first quarter. Virtu Financial LLC now owns 339,792 shares of the mining company’s stock worth $1,132,000 after purchasing an additional 309,836 shares in the last quarter. Helikon Investments Ltd grew its holdings in IAMGOLD by 250.5% during the 1st quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock worth $109,429,000 after acquiring an additional 23,485,183 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of IAMGOLD during the first quarter valued at approximately $389,000. U S Global Investors Inc. raised its position in shares of IAMGOLD by 241.6% in 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 in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in IAMGOLD by 326.7% during the first quarter. BNP Paribas Financial Markets now owns 609,440 shares of the mining company’s stock valued at $2,029,000 after purchasing an additional 466,620 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other 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.