National Bank Financial Predicts IAMGOLD Q3 Earnings

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Stock analysts at National Bank Financial issued their Q3 2024 earnings estimates for IAMGOLD in a report released on Tuesday, October 22nd. National Bank Financial analyst M. Parkin forecasts that the mining company will earn $0.13 per share for the quarter. National Bank Financial has a “Outperform” rating on the stock. The consensus estimate for IAMGOLD’s current full-year earnings is $0.49 per share.

Several other analysts have also recently commented on IAG. StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $6.00 target price on shares of IAMGOLD in a research report on Tuesday. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday. Scotiabank upped their price objective on shares of IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a research note on Monday, August 19th. Finally, Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating and raised their target price for the stock from $7.75 to $10.50 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.07.

IAMGOLD Price Performance

Shares of IAMGOLD stock opened at $5.77 on Thursday. The stock has a market capitalization of $3.28 billion, a P/E ratio of 20.59 and a beta of 1.59. The business has a 50 day simple moving average of $5.20 and a two-hundred day simple moving average of $4.37. IAMGOLD has a 12 month low of $2.11 and a 12 month high of $6.37. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.34 and a quick ratio of 0.90.

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

Institutional Investors Weigh In On IAMGOLD

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Helikon Investments Ltd increased its position in shares of IAMGOLD by 250.5% during the 1st quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock worth $109,429,000 after purchasing an additional 23,485,183 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of IAMGOLD by 8.2% in the 1st quarter. Van ECK Associates Corp now owns 52,053,035 shares of the mining company’s stock worth $173,340,000 after acquiring an additional 3,935,250 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of IAMGOLD by 326.7% during the 1st quarter. BNP Paribas Financial Markets now owns 609,440 shares of the mining company’s stock worth $2,029,000 after purchasing an additional 466,620 shares during the period. Headlands Technologies LLC acquired a new stake in IAMGOLD in the 1st quarter valued at approximately $389,000. Finally, Vanguard Group Inc. raised its position in IAMGOLD by 1.0% in the first quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock valued at $58,871,000 after purchasing an additional 168,302 shares during the period. 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.