Q1 2024 EPS Estimates for IAMGOLD Co. (NYSE:IAG) Lifted by Analyst

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Investment analysts at Cormark upped their Q1 2024 earnings per share estimates for IAMGOLD in a note issued to investors on Monday, April 22nd. Cormark analyst R. Gray now anticipates that the mining company will post earnings per share of $0.00 for the quarter, up from their prior forecast of ($0.01). The consensus estimate for IAMGOLD’s current full-year earnings is $0.06 per share.

A number of other equities research analysts have also commented on the company. StockNews.com lowered IAMGOLD from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. CIBC lifted their target price on IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. National Bank Financial reissued a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. BMO Capital Markets lifted their target price on IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a research report on Friday, April 5th. Finally, Scotiabank lifted their target price on IAMGOLD from $3.25 to $3.75 and gave the company a “sector perform” rating in a research report on Thursday, April 18th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $3.55.

IAMGOLD Trading Down 4.5 %

NYSE IAG opened at $3.50 on Tuesday. The firm has a market cap of $1.74 billion, a P/E ratio of 18.40, a P/E/G ratio of 1.46 and a beta of 1.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.77. The stock’s 50-day moving average is $3.11 and its 200-day moving average is $2.67. IAMGOLD has a one year low of $1.99 and a one year high of $3.92.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $297.60 million for the quarter. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. bought a new position in IAMGOLD in the fourth quarter valued at approximately $26,000. Dynamic Technology Lab Private Ltd bought a new position in shares of IAMGOLD during the 4th quarter worth approximately $29,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of IAMGOLD during the 4th quarter worth approximately $33,000. Koshinski Asset Management Inc. bought a new position in shares of IAMGOLD during the 4th quarter worth approximately $34,000. Finally, Stratos Wealth Partners LTD. bought a new position in shares of IAMGOLD during the 3rd quarter worth approximately $32,000. 47.08% of the stock is currently owned by institutional investors.

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.