Q1 2024 EPS Estimates for IAMGOLD Co. (NYSE:IAG) Increased by Analyst

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Stock analysts at Raymond James raised their Q1 2024 earnings per share (EPS) estimates for IAMGOLD in a research note issued to investors on Tuesday, April 23rd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings of $0.00 per share for the quarter, up from their prior estimate of ($0.04). The consensus estimate for IAMGOLD’s current full-year earnings is $0.10 per share. Raymond James also issued estimates for IAMGOLD’s Q2 2024 earnings at $0.04 EPS, Q3 2024 earnings at $0.08 EPS, Q4 2024 earnings at $0.10 EPS and FY2024 earnings at $0.23 EPS.

Several other equities research analysts have also recently weighed in on IAG. StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a research note on Friday. CIBC boosted their price objective on IAMGOLD from $3.00 to $3.10 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Scotiabank boosted their price objective on IAMGOLD from $3.25 to $3.75 and gave the stock a “sector perform” rating in a research note on Thursday, April 18th. BMO Capital Markets upped their target price on IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a research note on Friday, April 5th. Finally, National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of IAMGOLD in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $3.55.

IAMGOLD Trading Up 3.1 %

Shares of NYSE IAG opened at $3.71 on Friday. The business’s 50 day moving average is $3.19 and its two-hundred day moving average is $2.70. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.77. IAMGOLD has a 1-year low of $1.99 and a 1-year high of $3.92. The stock has a market capitalization of $1.84 billion, a P/E ratio of 19.53, a PEG ratio of 0.93 and a beta of 1.70.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Thursday, February 15th. The mining company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. The company had revenue of $297.60 million for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. bought a new position in IAMGOLD in the fourth quarter worth approximately $26,000. Dynamic Technology Lab Private Ltd bought a new position in IAMGOLD in the fourth quarter worth approximately $29,000. Vanguard Personalized Indexing Management LLC bought a new position in IAMGOLD in the fourth quarter worth approximately $33,000. Koshinski Asset Management Inc. bought a new position in IAMGOLD in the fourth quarter worth approximately $34,000. Finally, Stratos Wealth Partners LTD. bought a new position in IAMGOLD in the third quarter worth approximately $32,000. Institutional investors own 47.08% of the company’s stock.

About IAMGOLD

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.