Q3 2024 Earnings Estimate for IAMGOLD Co. Issued By Raymond James (NYSE:IAG)

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Stock analysts at Raymond James upped their Q3 2024 earnings estimates for shares of IAMGOLD in a research report issued on Monday, July 22nd. Raymond James analyst F. Hamed now anticipates that the mining company will earn $0.10 per share for the quarter, up from their previous forecast of $0.08. The consensus estimate for IAMGOLD’s current full-year earnings is $0.33 per share. Raymond James also issued estimates for IAMGOLD’s FY2024 earnings at $0.40 EPS.

A number of other brokerages have also issued reports on IAG. CIBC increased their price target on IAMGOLD from $4.80 to $4.90 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. BMO Capital Markets reaffirmed an “outperform” rating and set a $5.00 price objective on shares of IAMGOLD in a report on Thursday, June 6th. Scotiabank increased their price objective on shares of IAMGOLD from $4.25 to $4.50 and gave the company a “sector perform” rating in a research report on Thursday, June 6th. StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. Finally, National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, IAMGOLD has a consensus rating of “Hold” and a consensus price target of $4.02.

IAMGOLD Price Performance

NYSE IAG opened at $3.92 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.55 and a debt-to-equity ratio of 0.35. IAMGOLD has a 12 month low of $1.99 and a 12 month high of $4.59. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 13.98 and a beta of 1.56. The company’s 50 day moving average is $3.92 and its two-hundred day moving average is $3.37.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Thursday, May 9th. The mining company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.02 by $0.09. IAMGOLD had a return on equity of 3.17% and a net margin of 12.48%. The firm had revenue of $338.90 million for the quarter. During the same period last year, the business earned $0.05 EPS.

Institutional Investors Weigh In On IAMGOLD

Several hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. bought a new stake in shares of IAMGOLD during the fourth quarter worth $26,000. Dynamic Technology Lab Private Ltd purchased a new position in IAMGOLD in the 4th quarter worth about $29,000. Vanguard Personalized Indexing Management LLC purchased a new stake in IAMGOLD in the 4th quarter valued at about $33,000. Koshinski Asset Management Inc. bought a new position in IAMGOLD in the 4th quarter worth about $34,000. Finally, Cetera Advisors LLC bought a new stake in shares of IAMGOLD during the first quarter valued at approximately $50,000. 47.08% of the stock is currently owned by hedge funds and other 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.