FY2024 Earnings Forecast for IAMGOLD Issued By Stifel Canada

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Analysts at Stifel Canada raised their FY2024 EPS estimates for IAMGOLD in a research note issued on Monday, October 21st. Stifel Canada analyst I. Rico now expects that the mining company will post earnings per share of $0.84 for the year, up from their prior estimate of $0.62. The consensus estimate for IAMGOLD’s current full-year earnings is $1.11 per share. Stifel Canada also issued estimates for IAMGOLD’s FY2025 earnings at $1.28 EPS and FY2026 earnings at $1.52 EPS.

IAMGOLD (TSE:IMG) (NYSE:IAG) last issued its earnings results on Thursday, August 8th. The mining company reported C$0.22 EPS for the quarter, beating the consensus estimate of C$0.12 by C$0.10. IAMGOLD had a return on equity of 5.86% and a net margin of 10.36%. The company had revenue of C$527.18 million during the quarter.

IMG has been the subject of several other research reports. Stifel Nicolaus lifted their price target on shares of IAMGOLD from C$6.00 to C$9.00 in a research report on Monday, October 21st. National Bank Financial upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Royal Bank of Canada downgraded IAMGOLD from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Finally, National Bankshares increased their price objective on IAMGOLD from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$6.91.

IAMGOLD Trading Down 3.4 %

Shares of IAMGOLD stock opened at C$8.03 on Thursday. The company has a debt-to-equity ratio of 35.17, a quick ratio of 1.19 and a current ratio of 1.34. IAMGOLD has a 52 week low of C$2.87 and a 52 week high of C$8.80. The stock has a 50 day moving average price of C$7.08 and a two-hundred day moving average price of C$5.96. The stock has a market capitalization of C$4.58 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47.

Insider Activity

In related news, Senior Officer Bruno Lemelin sold 14,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of C$7.09, for a total transaction of C$99,206.80. Insiders own 0.10% 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.