National Bank Financial Weighs in on IAMGOLD FY2024 Earnings

IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG - Investment analysts at National Bank Financial lowered their FY2024 earnings per share estimates for IAMGOLD in a research report issued to clients and investors on Monday, February 10th. National Bank Financial analyst M. Parkin now forecasts that the mining company will post earnings of $0.56 per share for the year, down from their previous forecast of $0.57. The consensus estimate for IAMGOLD's current full-year earnings is $0.57 per share. National Bank Financial also issued estimates for IAMGOLD's Q4 2024 earnings at $0.12 EPS.

A number of other research firms have also issued reports on IAG. Raymond James upgraded IAMGOLD from a "strong sell" rating to a "hold" rating in a research note on Monday, February 3rd. Cibc World Mkts upgraded IAMGOLD from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 2nd. Canaccord Genuity Group upgraded IAMGOLD from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. StockNews.com upgraded IAMGOLD from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Finally, CIBC upgraded IAMGOLD from a "neutral" rating to a "sector outperform" rating in a research note on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.57.

IAMGOLD Stock Performance

Shares of IAG traded down $0.20 during mid-day trading on Wednesday, hitting $6.34. The stock had a trading volume of 9,997,003 shares, compared to its average volume of 12,636,900. The firm has a market cap of $3.62 billion, a P/E ratio of 4.96 and a beta of 1.56. The business has a fifty day moving average price of $5.68 and a 200-day moving average price of $5.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. IAMGOLD has a 52 week low of $2.38 and a 52 week high of $6.69.

Hedge Funds Weigh In On IAMGOLD

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tobam purchased a new position in IAMGOLD during the fourth quarter worth about $25,000. ORG Partners LLC purchased a new position in shares of IAMGOLD in the 3rd quarter worth about $29,000. Eastern Bank purchased a new position in shares of IAMGOLD in the 3rd quarter worth about $30,000. Blue Trust Inc. boosted its holdings in shares of IAMGOLD by 157.1% in the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company's stock worth $47,000 after purchasing an additional 5,511 shares in the last quarter. Finally, Raab & Moskowitz Asset Management LLC purchased a new position in shares of IAMGOLD in the 4th quarter worth about $56,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

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.