National Bank Financial Weighs in on IAMGOLD Co.’s FY2024 Earnings (TSE:IMG)

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Analysts at National Bank Financial lifted their FY2024 EPS estimates for shares of IAMGOLD in a report issued on Wednesday, October 9th. National Bank Financial analyst M. Parkin now anticipates that the mining company will post earnings of $0.90 per share for the year, up from their previous forecast of $0.71. National Bank Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for IAMGOLD’s current full-year earnings is $1.11 per share. National Bank Financial also issued estimates for IAMGOLD’s FY2025 earnings at $1.35 EPS and FY2026 earnings at $1.63 EPS.

IAMGOLD (TSE:IMG) (NYSE:IAG) last posted its earnings results on Thursday, August 8th. The mining company reported C$0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.12 by C$0.10. IAMGOLD had a net margin of 10.36% and a return on equity of 5.86%. The business had revenue of C$527.18 million for the quarter.

Several other research analysts also recently weighed in on the company. Canaccord Genuity Group upped their target price on IAMGOLD from C$5.50 to C$6.00 in a research note on Tuesday, July 23rd. National Bankshares upgraded shares of IAMGOLD from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$8.50 to C$11.00 in a research report on Thursday, October 10th. Finally, Royal Bank of Canada downgraded shares of IAMGOLD from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, IAMGOLD currently has a consensus rating of “Moderate Buy” and a consensus target price of C$6.12.

IAMGOLD Stock Performance

Shares of IMG stock opened at C$6.78 on Monday. The company has a market capitalization of C$3.87 billion, a P/E ratio of 21.19, a P/E/G ratio of -0.28 and a beta of 1.47. The business’s 50 day moving average is C$6.70 and its two-hundred day moving average is C$5.78. The company has a current ratio of 1.34, a quick ratio of 1.19 and a debt-to-equity ratio of 35.17. IAMGOLD has a 12-month low of C$2.87 and a 12-month high of C$7.55.

Insider Activity

In other IAMGOLD news, Senior Officer Bruno Lemelin sold 14,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of C$7.09, for a total transaction of C$99,206.80. Company insiders own 0.10% 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.