Stifel Canada Forecasts IAMGOLD’s FY2024 Earnings (NYSE:IAG)

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Equities researchers at Stifel Canada lifted their FY2024 earnings per share (EPS) estimates for shares of IAMGOLD in a research report issued to clients and investors on Monday, October 21st. Stifel Canada analyst I. Rico now forecasts that the mining company will post earnings per share of $0.61 for the year, up from their prior forecast of $0.45. The consensus estimate for IAMGOLD’s current full-year earnings is $0.49 per share. Stifel Canada also issued estimates for IAMGOLD’s FY2025 earnings at $0.93 EPS and FY2026 earnings at $1.10 EPS.

A number of other brokerages also recently weighed in on IAG. StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 price objective on shares of IAMGOLD in a research note on Tuesday. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday. National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Finally, CIBC raised their target price on IAMGOLD from $5.40 to $6.40 and gave the company a “neutral” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.07.

IAMGOLD Stock Down 2.7 %

Shares of IAG stock opened at $5.95 on Thursday. The stock’s 50 day simple moving average is $5.17 and its 200 day simple moving average is $4.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.90 and a current ratio of 1.34. IAMGOLD has a twelve month low of $2.11 and a twelve month high of $6.37. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 21.23 and a beta of 1.59.

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

Institutional Trading of IAMGOLD

Institutional investors have recently modified their holdings of the company. ORG Partners LLC acquired a new stake in shares of IAMGOLD during the 3rd quarter worth approximately $29,000. Eastern Bank acquired a new stake in shares of IAMGOLD during the 3rd quarter worth approximately $30,000. TIAA Trust National Association acquired a new stake in shares of IAMGOLD during the 2nd quarter worth approximately $38,000. Cetera Advisors LLC acquired a new stake in shares of IAMGOLD during the 1st quarter worth approximately $50,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of IAMGOLD during the 2nd quarter worth approximately $52,000. Institutional investors and hedge funds 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.