Q1 2024 Earnings Forecast for IAMGOLD Co. (NYSE:IAG) Issued By Cormark

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

IAG has been the subject of several other reports. StockNews.com downgraded shares of IAMGOLD from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. BMO Capital Markets upped their target price on shares of IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a research note on Friday, April 5th. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research note on Monday, April 8th. Scotiabank upped their target price on shares of IAMGOLD from $3.25 to $3.75 and gave the company a “sector perform” rating in a research note on Thursday, April 18th. Finally, CIBC upped their target price on shares of IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, IAMGOLD presently has a consensus rating of “Hold” and an average target price of $3.55.

IAMGOLD Price Performance

NYSE IAG opened at $3.70 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $3.14 and a 200 day simple moving average of $2.68. The company has a market cap of $1.84 billion, a P/E ratio of 19.47, a P/E/G ratio of 1.46 and a beta of 1.69. IAMGOLD has a 1 year low of $1.99 and a 1 year high of $3.92.

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

Hedge Funds Weigh In On IAMGOLD

A number of hedge funds have recently made changes to their positions in IAG. 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 in the last quarter. Donald Smith & CO. Inc. increased its position in shares of IAMGOLD by 13.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 35,778,309 shares of the mining company’s stock worth $90,519,000 after purchasing an additional 4,358,444 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of IAMGOLD during the 4th quarter worth about $10,972,000. Norges Bank acquired a new stake in shares of IAMGOLD during the 4th quarter worth about $8,642,000. Finally, Van ECK Associates Corp increased its position in shares of IAMGOLD by 4.0% during the 3rd quarter. Van ECK Associates Corp now owns 46,749,294 shares of the mining company’s stock worth $100,513,000 after purchasing an additional 1,779,306 shares in the last quarter. 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.