National Bank Financial Comments on IAMGOLD Q3 Earnings

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Analysts at National Bank Financial issued their Q3 2024 earnings per share (EPS) estimates for shares of IAMGOLD in a research report issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin forecasts that the mining company will earn $0.13 per share for the quarter. National Bank Financial has a “Outperform” rating on the stock. The consensus estimate for IAMGOLD’s current full-year earnings is $0.49 per share.

Several other research firms have also recently issued reports on IAG. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and raised their price objective for the stock from $7.75 to $10.50 in a report on Tuesday. StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $6.00 target price on shares of IAMGOLD in a research report on Tuesday. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, CIBC increased their target price on IAMGOLD from $5.40 to $6.40 and gave the stock a “neutral” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.07.

IAMGOLD Price Performance

IAG stock opened at $5.95 on Thursday. IAMGOLD has a 52-week low of $2.11 and a 52-week high of $6.37. The stock’s fifty day simple moving average is $5.17 and its 200-day simple moving average is $4.35. The company has a quick ratio of 0.90, a current ratio of 1.34 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 21.23 and a beta of 1.59.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its earnings results on Thursday, August 8th. The mining company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The firm had revenue of $385.30 million for the quarter. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. During the same quarter last year, the company posted ($0.01) EPS.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. ORG Partners LLC purchased a new position in IAMGOLD in the third quarter valued at about $29,000. Eastern Bank acquired a new stake in shares of IAMGOLD during the third quarter valued at about $30,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of IAMGOLD by 3.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company’s stock valued at $1,154,000 after acquiring an additional 8,972 shares in the last quarter. Continuum Advisory LLC grew its stake in shares of IAMGOLD by 92.9% during the second quarter. Continuum Advisory LLC now owns 20,450 shares of the mining company’s stock valued at $77,000 after acquiring an additional 9,850 shares in the last quarter. Finally, TIAA Trust National Association acquired a new stake in shares of IAMGOLD during the second quarter valued at about $38,000. 47.08% of the stock is 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.