Raymond James Weighs in on IAMGOLD Co.’s Q1 2024 Earnings (NYSE:IAG)

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Research analysts at Raymond James raised their Q1 2024 EPS estimates for shares of IAMGOLD in a research note issued to investors on Tuesday, April 23rd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings per share of $0.00 for the quarter, up from their prior estimate of ($0.04). The consensus estimate for IAMGOLD’s current full-year earnings is $0.14 per share. Raymond James also issued estimates for IAMGOLD’s Q2 2024 earnings at $0.04 EPS, Q3 2024 earnings at $0.08 EPS, Q4 2024 earnings at $0.10 EPS and FY2024 earnings at $0.23 EPS.

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

IAMGOLD Stock Performance

Shares of IAG stock opened at $3.78 on Friday. The company has a 50 day moving average price of $3.21 and a 200-day moving average price of $2.71. IAMGOLD has a 52 week low of $1.99 and a 52 week high of $3.92. The firm has a market capitalization of $1.88 billion, a PE ratio of 19.90, a P/E/G ratio of 0.67 and a beta of 1.70. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.36.

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

Hedge Funds Weigh In On IAMGOLD

Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. purchased a new position in shares of IAMGOLD in the fourth quarter worth approximately $26,000. Dynamic Technology Lab Private Ltd purchased a new position in IAMGOLD during the fourth quarter valued at approximately $29,000. Stratos Wealth Partners LTD. purchased a new position in IAMGOLD during the third quarter valued at approximately $32,000. Vanguard Personalized Indexing Management LLC purchased a new position in IAMGOLD during the fourth quarter valued at approximately $33,000. Finally, Koshinski Asset Management Inc. purchased a new position in IAMGOLD during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors 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.