National Bank Financial Comments on IAMGOLD Q3 Earnings

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Research analysts at National Bank Financial issued their Q3 2024 earnings per share (EPS) estimates for IAMGOLD in a report issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin anticipates that the mining company will post earnings per share of $0.13 for the quarter. 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.

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

IAG has been the subject of a number of other reports. StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $6.00 price target on shares of IAMGOLD in a report on Tuesday. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating and lifted their price target for the stock from $7.75 to $10.50 in a report on Tuesday. Finally, Scotiabank lifted their target price on IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.07.

IAMGOLD Trading Down 2.7 %

NYSE:IAG opened at $5.95 on Thursday. The firm has a market cap of $3.38 billion, a PE ratio of 21.23 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average price of $5.17 and a 200 day moving average price of $4.35. IAMGOLD has a 12-month low of $2.11 and a 12-month high of $6.37.

Hedge Funds Weigh In On IAMGOLD

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new position in IAMGOLD during the 3rd quarter worth approximately $700,000. Eastern Bank purchased a new stake in shares of IAMGOLD during the 3rd quarter worth approximately $30,000. U S Global Investors Inc. boosted its stake in shares of 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of IAMGOLD by 1,973.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,012,000 shares of the mining company’s stock worth $5,311,000 after acquiring an additional 963,200 shares in the last quarter. Finally, ORG Partners LLC purchased a new stake in shares of IAMGOLD during the 3rd quarter worth approximately $29,000. 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.