Q1 2024 EPS Estimates for IAMGOLD Co. (NYSE:IAG) Lifted by Analyst

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Equities research analysts at Cormark increased their Q1 2024 earnings estimates for 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 forecast of ($0.01). The consensus estimate for IAMGOLD’s current full-year earnings is $0.06 per share.

Several other equities research analysts have also recently commented on the stock. BMO Capital Markets boosted their price target on shares of IAMGOLD from $4.00 to $4.25 and gave the stock an “outperform” rating in a research report on Friday, April 5th. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. CIBC boosted their price target on shares of IAMGOLD from $3.00 to $3.10 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Scotiabank boosted their price target on shares of IAMGOLD from $3.25 to $3.75 and gave the stock a “sector perform” rating in a research report on Thursday, April 18th. Finally, StockNews.com cut shares of IAMGOLD from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.55.

IAMGOLD Price Performance

Shares of IAMGOLD stock opened at $3.50 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’s 50-day moving average price is $3.11 and its two-hundred day moving average price is $2.67. IAMGOLD has a 52 week low of $1.99 and a 52 week high of $3.92. The stock has a market cap 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.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Thursday, February 15th. The mining company reported $0.06 earnings per share for the quarter, topping the consensus estimate 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.

Institutional Trading of IAMGOLD

Several institutional investors and hedge funds have recently bought and sold shares of IAG. SG Americas Securities LLC raised its holdings in IAMGOLD by 43.7% during the 3rd quarter. SG Americas Securities LLC now owns 404,341 shares of the mining company’s stock worth $869,000 after buying an additional 123,048 shares during the period. Stratos Wealth Partners LTD. acquired a new position in shares of IAMGOLD in the 3rd quarter valued at about $32,000. DORCHESTER WEALTH MANAGEMENT Co increased its holdings in shares of IAMGOLD by 8.5% in the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 171,800 shares of the mining company’s stock valued at $372,000 after purchasing an additional 13,500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of IAMGOLD by 31.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 98,843 shares of the mining company’s stock valued at $214,000 after purchasing an additional 23,836 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in shares of IAMGOLD by 0.9% in the 3rd quarter. CIBC Asset Management Inc now owns 435,298 shares of the mining company’s stock valued at $942,000 after purchasing an additional 4,000 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.