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

IAMGOLD Co. (NYSE:IAG – Get Rating) (TSE:IMG) – Equities research analysts at Raymond James issued their Q1 2024 EPS estimates for IAMGOLD in a note issued to investors on Thursday, May 18th. Raymond James analyst F. Hamed expects that the mining company will post earnings of $0.07 per share for the quarter. Raymond James has a “Underperform” rating and a $2.25 price target on the stock. The consensus estimate for IAMGOLD’s current full-year earnings is $0.02 per share. Raymond James also issued estimates for IAMGOLD’s Q2 2024 earnings at $0.07 EPS, Q3 2024 earnings at $0.07 EPS and Q4 2024 earnings at $0.07 EPS.

A number of other equities research analysts also recently issued reports on the stock. National Bank Financial lowered their target price on shares of IAMGOLD from C$4.10 to C$4.00 in a report on Tuesday, February 14th. BMO Capital Markets began coverage on shares of IAMGOLD in a research report on Monday, May 1st. They set an “outperform” rating and a $3.25 price target on the stock. Finally, StockNews.com began coverage on shares of IAMGOLD in a research report on Thursday. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $2.89.

IAMGOLD Price Performance

IAMGOLD stock opened at $2.77 on Monday. IAMGOLD has a 1 year low of $0.92 and a 1 year high of $3.34. The firm has a 50 day moving average price of $2.86 and a 200 day moving average price of $2.50. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -15.39, a PEG ratio of 28.82 and a beta of 1.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.88 and a current ratio of 2.44.

IAMGOLD (NYSE:IAG – Get Rating) (TSE:IMG) last released its earnings results on Thursday, February 16th. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). IAMGOLD had a negative net margin of 7.38% and a negative return on equity of 0.18%. The company had revenue of $207.20 million during the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IAG. JPMorgan Chase & Co. lifted its position in shares of IAMGOLD by 416.9% during the first quarter. JPMorgan Chase & Co. now owns 2,430,863 shares of the mining company’s stock worth $8,459,000 after purchasing an additional 1,960,562 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in IAMGOLD by 2.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 488,427 shares of the mining company’s stock valued at $1,700,000 after acquiring an additional 11,047 shares in the last quarter. Private Advisor Group LLC acquired a new stake in IAMGOLD in the first quarter valued at $41,000. Citigroup Inc. acquired a new stake in IAMGOLD in the first quarter valued at $31,000. Finally, Great West Life Assurance Co. Can raised its holdings in IAMGOLD by 23.0% in the first quarter. Great West Life Assurance Co. Can now owns 36,927 shares of the mining company’s stock valued at $137,000 after acquiring an additional 6,913 shares in the last quarter. 48.57% of the stock is owned by institutional investors and hedge funds.

IAMGOLD Company Profile

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IAMGOLD Corp. engages in the exploration, development and production of gold and mineral resource properties. It owns and operates the Westwood mine in Quebec and the Cote Gold project, a development project located in Ontario. The firm also operates the Rosebel mine in Suriname, the Essakane mine in Burkina Faso, the Saramacca project, an exploration project located in Suriname, the Boto project, an exploration project located in Senegal.