What is Cormark's Forecast for IAMGOLD FY2024 Earnings?

IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG - Analysts at Cormark cut their FY2024 earnings per share (EPS) estimates for shares of IAMGOLD in a research note issued on Wednesday, January 15th. Cormark analyst R. Gray now expects that the mining company will post earnings per share of $0.57 for the year, down from their previous forecast of $0.62. The consensus estimate for IAMGOLD's current full-year earnings is $0.60 per share. Cormark also issued estimates for IAMGOLD's Q4 2024 earnings at $0.12 EPS, Q1 2025 earnings at $0.12 EPS, Q2 2025 earnings at $0.13 EPS, FY2025 earnings at $0.62 EPS and FY2026 earnings at $1.13 EPS.

Several other equities research analysts also recently weighed in on the stock. Royal Bank of Canada reissued a "sector perform" rating and issued a $6.00 target price on shares of IAMGOLD in a research note on Tuesday, October 22nd. StockNews.com lowered shares of IAMGOLD from a "buy" rating to a "hold" rating in a research report on Wednesday, January 15th. National Bank Financial upgraded IAMGOLD from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 10th. Cibc World Mkts upgraded IAMGOLD from a "hold" rating to a "strong-buy" rating in a report on Monday, December 2nd. Finally, Raymond James decreased their price target on IAMGOLD from $6.50 to $6.00 and set an "underperform" rating for the company in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, IAMGOLD presently has a consensus rating of "Moderate Buy" and a consensus target price of $6.57.

IAMGOLD Trading Up 2.7 %

NYSE:IAG traded up $0.15 during midday trading on Monday, hitting $5.60. 11,591,368 shares of the company traded hands, compared to its average volume of 6,144,788. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The firm's fifty day moving average is $5.39 and its 200-day moving average is $5.05. The firm has a market capitalization of $3.20 billion, a P/E ratio of 4.37 and a beta of 1.56. IAMGOLD has a 12-month low of $2.23 and a 12-month high of $6.37.

Institutional Investors Weigh In On IAMGOLD

Several hedge funds have recently modified their holdings of IAG. ORG Partners LLC purchased a new stake in shares of IAMGOLD during the 3rd quarter worth $29,000. Eastern Bank purchased a new stake in shares of IAMGOLD during the third quarter valued at about $30,000. Aigen Investment Management LP boosted its holdings in shares of IAMGOLD by 10.6% in the 3rd quarter. Aigen Investment Management LP now owns 70,244 shares of the mining company's stock valued at $368,000 after buying an additional 6,704 shares in the last quarter. Geode Capital Management LLC grew its position in shares of IAMGOLD by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company's stock worth $1,392,000 after buying an additional 6,874 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of IAMGOLD by 3.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company's stock worth $1,154,000 after acquiring an additional 8,972 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company's stock.

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.