FY2024 Earnings Forecast for IAMGOLD Issued By Stifel Canada

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Research analysts at Stifel Canada boosted their FY2024 earnings per share (EPS) estimates for shares of IAMGOLD in a research report issued on Monday, October 21st. Stifel Canada analyst I. Rico now forecasts that the mining company will earn $0.61 per share for the year, up from their prior forecast of $0.45. The consensus estimate for IAMGOLD’s current full-year earnings is $0.51 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 research firms also recently weighed in on IAG. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday. National Bank Financial upgraded IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. CIBC raised their price objective on IAMGOLD from $5.40 to $6.40 and gave the stock a “neutral” rating in a report on Tuesday. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and boosted their target price for the stock from $7.75 to $10.50 in a report on Tuesday. Finally, StockNews.com upgraded shares of IAMGOLD from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, IAMGOLD currently has an average rating of “Hold” and an average price target of $6.07.

IAMGOLD Price Performance

IAG opened at $5.77 on Thursday. IAMGOLD has a 1 year low of $2.11 and a 1 year high of $6.37. The company’s 50 day simple moving average is $5.20 and its 200 day simple moving average is $4.37. The stock has a market capitalization of $3.29 billion, a PE ratio of 23.06 and a beta of 1.59. 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 (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) 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 firm had revenue of $385.30 million for the quarter. During the same period in the previous year, the business posted ($0.01) earnings per share.

Institutional Trading of IAMGOLD

Several large investors have recently bought and sold shares of IAG. Virtu Financial LLC boosted its stake in shares of IAMGOLD by 1,034.3% in the first quarter. Virtu Financial LLC now owns 339,792 shares of the mining company’s stock valued at $1,132,000 after purchasing an additional 309,836 shares during the period. Helikon Investments Ltd lifted its holdings in IAMGOLD by 250.5% in the 1st quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock worth $109,429,000 after buying an additional 23,485,183 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of IAMGOLD during the first quarter valued at about $389,000. U S Global Investors Inc. grew its stake in shares of IAMGOLD by 241.6% during the third quarter. U S Global Investors Inc. now owns 854,114 shares of the mining company’s stock valued at $4,467,000 after acquiring an additional 604,114 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of IAMGOLD by 326.7% during the first quarter. BNP Paribas Financial Markets now owns 609,440 shares of the mining company’s stock worth $2,029,000 after acquiring an additional 466,620 shares during the last quarter. 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.