What is Cormark's Forecast for IAMGOLD FY2024 Earnings?

IAMGOLD Co. (TSE:IMG - Free Report) NYSE: IAG - Investment analysts at Cormark reduced their FY2024 earnings per share (EPS) estimates for shares of IAMGOLD in a note issued to investors on Wednesday, January 15th. Cormark analyst R. Gray now expects that the mining company will earn $0.82 per share for the year, down from their prior forecast of $0.86. The consensus estimate for IAMGOLD's current full-year earnings is $1.11 per share. Cormark also issued estimates for IAMGOLD's Q4 2024 earnings at $0.17 EPS, Q1 2025 earnings at $0.17 EPS, Q2 2025 earnings at $0.19 EPS, FY2025 earnings at $0.89 EPS and FY2026 earnings at $1.63 EPS.

A number of other equities research analysts also recently commented on IMG. National Bankshares cut their price objective on IAMGOLD from C$12.50 to C$12.00 and set an "outperform" rating for the company in a research report on Thursday, January 9th. National Bank Financial raised IAMGOLD from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 9th. Cibc World Mkts raised shares of IAMGOLD from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 2nd. Canaccord Genuity Group upgraded shares of IAMGOLD from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 22nd. Finally, Stifel Nicolaus upped their price target on shares of IAMGOLD from C$6.00 to C$9.00 in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, IAMGOLD has a consensus rating of "Buy" and an average target price of C$8.30.

IAMGOLD Price Performance

IMG stock traded up C$0.05 on Monday, hitting C$8.14. 322,237 shares of the company's stock traded hands, compared to its average volume of 1,603,668. The stock has a market cap of C$4.64 billion, a price-to-earnings ratio of 25.44, a P/E/G ratio of -0.28 and a beta of 1.47. IAMGOLD has a 1-year low of C$3.06 and a 1-year high of C$8.80. The company has a current ratio of 1.34, a quick ratio of 1.19 and a debt-to-equity ratio of 35.17. The stock has a fifty day moving average of C$7.65 and a 200-day moving average of C$6.97.

Insider Transactions at IAMGOLD

In related news, Senior Officer Stephen Eddy sold 16,100 shares of the company's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of C$7.80, for a total value of C$125,580.00. Also, Senior Officer Timothy Bradburn sold 16,800 shares of the firm's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of C$8.10, for a total value of C$136,080.00. 0.10% of the stock is owned by insiders.

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.