Cormark Has Optimistic Outlook of IAMGOLD FY2024 Earnings

IAMGOLD Co. (TSE:IMG - Free Report) NYSE: IAG - Stock analysts at Cormark boosted their FY2024 earnings estimates for IAMGOLD in a research report issued on Monday, November 11th. Cormark analyst R. Gray now forecasts that the mining company will post earnings of $0.86 per share for the year, up from their prior forecast of $0.68. The consensus estimate for IAMGOLD's current full-year earnings is $1.11 per share. Cormark also issued estimates for IAMGOLD's FY2026 earnings at $1.90 EPS.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada cut shares of IAMGOLD from a "moderate buy" rating to a "hold" rating in a report on Tuesday, September 10th. National Bank Financial upgraded IAMGOLD from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 9th. Canaccord Genuity Group upgraded IAMGOLD from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 22nd. Stifel Nicolaus upped their price objective on IAMGOLD from C$6.00 to C$9.00 in a research note on Monday, October 21st. Finally, National Bankshares upped their price objective on IAMGOLD from C$11.00 to C$12.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, IAMGOLD currently has an average rating of "Buy" and an average price target of C$7.29.

IAMGOLD Stock Performance

Shares of IAMGOLD stock traded up C$0.05 during trading hours on Thursday, reaching C$7.04. The company's stock had a trading volume of 587,040 shares, compared to its average volume of 1,545,586. The company has a debt-to-equity ratio of 35.17, a quick ratio of 1.19 and a current ratio of 1.34. IAMGOLD has a one year low of C$2.87 and a one year high of C$8.80. The company's 50 day simple moving average is C$7.24 and its 200 day simple moving average is C$6.19. The stock has a market cap of C$4.01 billion, a P/E ratio of 21.84, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47.

Insiders Place Their Bets

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. 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. Also, Director Renaud Adams acquired 36,000 shares of the business's stock in a transaction dated Tuesday, November 12th. The stock was purchased at an average price of C$6.95 per share, with a total value of C$250,102.80. 0.10% of the stock is currently 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.