Q2 2024 Earnings Forecast for IAMGOLD Co. (NYSE:IAG) Issued By Cormark

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Analysts at Cormark upped their Q2 2024 earnings per share (EPS) estimates for shares of IAMGOLD in a research note issued on Wednesday, July 24th. Cormark analyst R. Gray now expects that the mining company will post earnings of $0.08 per share for the quarter, up from their prior forecast of $0.05. The consensus estimate for IAMGOLD’s current full-year earnings is $0.33 per share.

Several other equities analysts have also recently issued reports on IAG. National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. BMO Capital Markets reiterated an “outperform” rating and set a $5.00 target price on shares of IAMGOLD in a research report on Thursday, June 6th. StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. CIBC boosted their target price on IAMGOLD from $4.80 to $4.90 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Finally, Scotiabank boosted their target price on IAMGOLD from $4.25 to $4.50 and gave the stock a “sector perform” rating in a research report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, IAMGOLD presently has an average rating of “Hold” and a consensus price target of $4.02.

IAMGOLD Price Performance

IAMGOLD stock opened at $3.92 on Friday. IAMGOLD has a fifty-two week low of $1.99 and a fifty-two week high of $4.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.55 and a current ratio of 0.91. The company has a market capitalization of $2.23 billion, a P/E ratio of 14.00 and a beta of 1.56. The stock has a 50-day simple moving average of $3.91 and a 200-day simple moving average of $3.39.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Thursday, May 9th. The mining company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.09. IAMGOLD had a return on equity of 3.17% and a net margin of 12.48%. The company had revenue of $338.90 million during the quarter. During the same period last year, the firm earned $0.05 earnings per share.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Continuum Advisory LLC lifted its stake in shares of IAMGOLD by 92.9% during the 2nd quarter. Continuum Advisory LLC now owns 20,450 shares of the mining company’s stock worth $77,000 after purchasing an additional 9,850 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in shares of IAMGOLD during the 4th quarter worth $26,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of IAMGOLD during the 4th quarter worth $29,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of IAMGOLD during the 4th quarter worth $33,000. Finally, Koshinski Asset Management Inc. purchased a new position in shares of IAMGOLD during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 47.08% 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.