IAMGOLD Co. (NYSE:IAG) Forecasted to Post Q1 2024 Earnings of $0.04 Per Share

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Research analysts at National Bank Financial issued their Q1 2024 EPS estimates for shares of IAMGOLD in a report released on Thursday, April 18th. National Bank Financial analyst M. Parkin anticipates that the mining company will post earnings of $0.04 per share for the quarter. National Bank Financial currently has a “Sector Perform Spec Overwgt” rating on the stock. The consensus estimate for IAMGOLD’s current full-year earnings is $0.06 per share. National Bank Financial also issued estimates for IAMGOLD’s FY2024 earnings at $0.09 EPS and FY2025 earnings at $0.33 EPS.

Several other analysts also recently issued reports on the company. StockNews.com downgraded IAMGOLD from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. BMO Capital Markets upped their price target on shares of IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a research report on Friday, April 5th. Scotiabank raised their price objective 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. Finally, CIBC boosted 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 analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, IAMGOLD currently has a consensus rating of “Hold” and a consensus price target of $3.55.

IAMGOLD Stock Down 4.5 %

Shares of IAMGOLD stock opened at $3.50 on Monday. 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 has a 12-month low of $1.99 and a 12-month high of $3.92. The firm has a market capitalization of $1.74 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 1.46 and a beta of 1.69. The stock’s fifty day moving average is $3.11 and its 200-day moving average is $2.67.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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 Investors Weigh In On IAMGOLD

Hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in IAMGOLD by 2.9% in the fourth quarter. Van ECK Associates Corp now owns 48,117,785 shares of the mining company’s stock worth $121,736,000 after purchasing an additional 1,368,491 shares in the last quarter. Donald Smith & CO. Inc. lifted its holdings in IAMGOLD by 13.9% in 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 during the last quarter. Helikon Investments Ltd boosted its position in IAMGOLD by 250.5% during the first 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 during the period. Vanguard Group Inc. grew its holdings in IAMGOLD by 2.1% during the third quarter. Vanguard Group Inc. now owns 17,375,017 shares of the mining company’s stock valued at $37,356,000 after purchasing an additional 363,051 shares during the last quarter. Finally, P Schoenfeld Asset Management LP raised its position in shares of IAMGOLD by 11.1% in the fourth quarter. P Schoenfeld Asset Management LP now owns 8,234,284 shares of the mining company’s stock valued at $20,833,000 after purchasing an additional 822,149 shares during the period. 47.08% of the stock is 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.