Brokers Issue Forecasts for IAMGOLD Co.’s Q2 2024 Earnings (TSE:IMG)

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Stock analysts at Cormark lifted their Q2 2024 earnings per share (EPS) estimates for shares of IAMGOLD in a research note issued on Monday, May 13th. Cormark analyst R. Gray now anticipates that the mining company will post earnings per share of $0.07 for the quarter, up from their prior forecast of ($0.01). The consensus estimate for IAMGOLD’s current full-year earnings is $0.29 per share. Cormark also issued estimates for IAMGOLD’s Q3 2024 earnings at $0.05 EPS, FY2024 earnings at $0.36 EPS and FY2025 earnings at $0.92 EPS.

Several other research analysts have also recently weighed in on the stock. Bank of America boosted their price target on shares of IAMGOLD from C$4.40 to C$6.20 in a report on Tuesday, April 9th. Canaccord Genuity Group boosted their target price on IAMGOLD from C$3.75 to C$5.50 in a research note on Tuesday, April 23rd. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. Stifel Nicolaus lifted their price target on IAMGOLD from C$3.00 to C$5.25 in a report on Friday, April 19th. Finally, National Bankshares upped their price objective on IAMGOLD from C$6.50 to C$6.75 and gave the company a “sector perform” rating in a research note on Monday, May 13th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, IAMGOLD presently has an average rating of “Hold” and an average price target of C$5.03.

IAMGOLD Price Performance

IMG opened at C$6.17 on Thursday. IAMGOLD has a 1 year low of C$2.71 and a 1 year high of C$6.24. The company has a debt-to-equity ratio of 40.77, a current ratio of 0.91 and a quick ratio of 1.19. The company has a market capitalization of C$3.07 billion, a price-to-earnings ratio of 24.68, a P/E/G ratio of -0.28 and a beta of 1.44. The firm’s fifty day moving average price is C$4.85 and its two-hundred day moving average price is C$3.88.

IAMGOLD (TSE:IMG) (NYSE:IAG) last announced its earnings results on Thursday, February 15th. The mining company reported C$0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.02 by C$0.06. The company had revenue of C$405.19 million for the quarter. IAMGOLD had a return on equity of 6.57% and a net margin of 12.48%.

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.