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

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Research analysts at Cormark boosted their Q1 2024 earnings estimates for IAMGOLD in a note issued to investors on Monday, April 22nd. Cormark analyst R. Gray now forecasts that the mining company will post earnings of $0.00 per share for the quarter, up from their prior estimate of ($0.01). The consensus estimate for IAMGOLD’s current full-year earnings is $0.10 per share.

IAG has been the topic of several other research reports. StockNews.com downgraded shares of IAMGOLD from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. Scotiabank lifted their price target on IAMGOLD from $3.25 to $3.75 and gave the stock a “sector perform” rating in a research report on Thursday, April 18th. BMO Capital Markets increased their price objective on IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a report on Friday, April 5th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. Finally, CIBC raised 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. 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $3.55.

IAMGOLD Stock Performance

Shares of IAG stock opened at $3.61 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 has a market cap of $1.79 billion, a PE ratio of 18.97, a PEG ratio of 0.90 and a beta of 1.70. IAMGOLD has a 12-month low of $1.99 and a 12-month high of $3.92. The business’s fifty day simple moving average is $3.16 and its 200-day simple moving average is $2.69.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm had revenue of $297.60 million during the quarter. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in shares of IAMGOLD by 43.7% in the third quarter. SG Americas Securities LLC now owns 404,341 shares of the mining company’s stock valued at $869,000 after purchasing an additional 123,048 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new stake in shares of IAMGOLD in the 3rd quarter worth $32,000. DORCHESTER WEALTH MANAGEMENT Co raised its holdings in shares of IAMGOLD by 8.5% during the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 171,800 shares of the mining company’s stock worth $372,000 after acquiring an additional 13,500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of IAMGOLD by 31.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 98,843 shares of the mining company’s stock valued at $214,000 after acquiring an additional 23,836 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of IAMGOLD by 0.9% in the third 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. 47.08% of the stock is 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.