Stifel Canada Has Negative Outlook of IAMGOLD Q4 Earnings

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Analysts at Stifel Canada reduced their Q4 2024 earnings estimates for shares of IAMGOLD in a research report issued to clients and investors on Tuesday, February 4th. Stifel Canada analyst I. Rico now anticipates that the mining company will post earnings of $0.16 per share for the quarter, down from their previous estimate of $0.20. The consensus estimate for IAMGOLD’s current full-year earnings is $0.58 per share.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, November 7th. The mining company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. The business had revenue of $438.90 million for the quarter. IAMGOLD had a net margin of 49.56% and a return on equity of 10.01%. During the same period last year, the firm posted ($0.01) earnings per share.

Other research analysts have also issued reports about the company. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and raised their price target for the stock from $7.75 to $10.50 in a research report on Tuesday, October 22nd. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. StockNews.com raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research report on Thursday. Raymond James upgraded shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, February 3rd. Finally, CIBC upgraded shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.57.

IAMGOLD Stock Down 0.9 %

IAMGOLD stock opened at $6.41 on Thursday. The company has a market capitalization of $3.66 billion, a PE ratio of 5.00 and a beta of 1.56. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. IAMGOLD has a fifty-two week low of $2.32 and a fifty-two week high of $6.64. The firm has a 50 day moving average price of $5.59 and a 200 day moving average price of $5.23.

Institutional Investors Weigh In On IAMGOLD

Hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp increased its holdings in IAMGOLD by 8.8% in the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock valued at $276,639,000 after buying an additional 4,267,084 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of IAMGOLD by 58.8% in the 3rd quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company’s stock valued at $52,735,000 after acquiring an additional 3,732,315 shares during the last quarter. FMR LLC raised its position in shares of IAMGOLD by 107.9% during the 3rd quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock worth $46,174,000 after acquiring an additional 4,577,599 shares in the last quarter. Bank of Montreal Can raised its position in shares of IAMGOLD by 130.6% during the 3rd quarter. Bank of Montreal Can now owns 5,384,778 shares of the mining company’s stock worth $28,385,000 after acquiring an additional 3,049,252 shares in the last quarter. Finally, Cibc World Market Inc. boosted its holdings in IAMGOLD by 54.0% in the fourth quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company’s stock valued at $26,452,000 after purchasing an additional 1,795,869 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

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.