IAMGOLD Co. (NYSE:IAG) Forecasted to Earn Q1 2024 Earnings of $0.00 Per Share

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Raymond James raised their Q1 2024 EPS estimates for IAMGOLD in a report released on Tuesday, April 23rd. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings of $0.00 per share for the quarter, up from their previous forecast 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.

Other research analysts have also recently issued reports about the stock. StockNews.com upgraded shares of IAMGOLD from a “sell” rating to a “hold” rating in a report on Friday. BMO Capital Markets boosted their target price on shares of IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a research note on Friday, April 5th. 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. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research note on Monday, April 8th. Finally, Scotiabank boosted their target price on shares of IAMGOLD from $3.25 to $3.75 and gave the company a “sector perform” rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $3.55.

IAMGOLD Stock Up 1.9 %

IAMGOLD stock opened at $3.78 on Friday. IAMGOLD has a fifty-two week low of $1.99 and a fifty-two week high of $3.92. The stock has a market cap of $1.88 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 0.67 and a beta of 1.70. The firm’s 50-day simple moving average is $3.21 and its 200 day simple moving average is $2.71. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.77 and a current ratio of 1.19.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results 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 for the quarter.

Institutional Trading of IAMGOLD

Institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of IAMGOLD during the 4th quarter valued at approximately $26,000. Dynamic Technology Lab Private Ltd bought a new stake in IAMGOLD during the 4th quarter worth approximately $29,000. Vanguard Personalized Indexing Management LLC bought a new stake in IAMGOLD during the 4th quarter worth approximately $33,000. Koshinski Asset Management Inc. bought a new stake in IAMGOLD during the 4th quarter worth approximately $34,000. Finally, Stratos Wealth Partners LTD. bought a new stake in IAMGOLD during the 3rd quarter worth approximately $32,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

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.