What is Raymond James' Estimate for IAMGOLD FY2024 Earnings?

IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG - Investment analysts at Raymond James increased their FY2024 earnings per share (EPS) estimates for IAMGOLD in a research report issued to clients and investors on Tuesday, January 14th. Raymond James analyst F. Hamed now anticipates that the mining company will earn $0.63 per share for the year, up from their prior estimate of $0.61. Raymond James has a "Underperform" rating and a $6.00 price objective on the stock. The consensus estimate for IAMGOLD's current full-year earnings is $0.60 per share.

Several other brokerages have also issued reports on IAG. CIBC upgraded shares of IAMGOLD from a "neutral" rating to a "sector outperform" rating in a research report on Monday, December 2nd. Canaccord Genuity Group upgraded IAMGOLD from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Canaccord Genuity Group upgraded IAMGOLD from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $7.75 to $10.50 in a research note on Tuesday, October 22nd. StockNews.com downgraded IAMGOLD from a "buy" rating to a "hold" rating in a research report on Wednesday. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $6.00 price target on shares of IAMGOLD in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, IAMGOLD currently has an average rating of "Moderate Buy" and an average target price of $6.57.

IAMGOLD Price Performance

IAMGOLD stock traded up $0.12 during trading on Thursday, reaching $5.46. The company had a trading volume of 10,048,083 shares, compared to its average volume of 11,451,028. The firm has a market capitalization of $3.12 billion, a PE ratio of 4.26 and a beta of 1.56. The firm's 50-day simple moving average is $5.39 and its 200 day simple moving average is $5.02. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. IAMGOLD has a 1-year low of $2.23 and a 1-year high of $6.37.

Institutional Investors Weigh In On IAMGOLD

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. ORG Partners LLC purchased a new stake in IAMGOLD in the 3rd quarter valued at $29,000. Eastern Bank acquired a new position in shares of IAMGOLD during the 3rd quarter valued at about $30,000. International Assets Investment Management LLC purchased a new stake in shares of IAMGOLD in the third quarter valued at about $700,000. WINTON GROUP Ltd acquired a new stake in IAMGOLD during the second quarter worth about $52,000. Finally, Flow Traders U.S. LLC purchased a new position in IAMGOLD during the third quarter worth about $93,000. Institutional investors and hedge funds 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.