Q2 2024 Earnings Forecast for IAMGOLD Co. (NYSE:IAG) Issued By Cormark

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Research analysts at Cormark lifted their Q2 2024 EPS estimates for IAMGOLD in a research report issued to clients and investors on Wednesday, July 24th. Cormark analyst R. Gray now forecasts that the mining company will post earnings per share of $0.08 for the quarter, up from their previous estimate of $0.05. The consensus estimate for IAMGOLD’s current full-year earnings is $0.33 per share.

Several other equities research analysts have also issued reports on IAG. BMO Capital Markets reiterated an “outperform” rating and issued a $5.00 price target on shares of IAMGOLD in a research note on Thursday, June 6th. Scotiabank lifted their price target on shares of IAMGOLD from $4.25 to $4.50 and gave the company a “sector perform” rating in a research note on Thursday, June 6th. StockNews.com upgraded shares of IAMGOLD from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research note on Monday, April 8th. Finally, CIBC lifted their price target on shares of IAMGOLD from $4.80 to $4.90 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $4.02.

IAMGOLD Stock Performance

Shares of NYSE:IAG opened at $3.92 on Friday. IAMGOLD has a 12 month low of $1.99 and a 12 month high of $4.59. The company has a quick ratio of 0.55, a current ratio of 0.91 and a debt-to-equity ratio of 0.35. The company’s fifty day simple moving average is $3.91 and its 200 day simple moving average is $3.39. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 14.00 and a beta of 1.56.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Thursday, May 9th. The mining company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.09. IAMGOLD had a net margin of 12.48% and a return on equity of 3.17%. The business had revenue of $338.90 million for the quarter. During the same quarter in the previous year, the business earned $0.05 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Continuum Advisory LLC grew its position in shares of IAMGOLD by 92.9% in the 2nd quarter. Continuum Advisory LLC now owns 20,450 shares of the mining company’s stock valued at $77,000 after acquiring an additional 9,850 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in shares of IAMGOLD during the 4th quarter worth about $26,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of IAMGOLD during the 4th quarter worth about $29,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of IAMGOLD during the 4th quarter worth about $33,000. Finally, Koshinski Asset Management Inc. bought a new stake in shares of IAMGOLD during the 4th quarter worth about $34,000. 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.