IAMGOLD (NYSE:IAG) Upgraded at Raymond James

Raymond James upgraded shares of IAMGOLD (NYSE:IAG - Free Report) TSE: IMG from a strong sell rating to a hold rating in a report released on Monday morning,Zacks.com reports. Raymond James also issued estimates for IAMGOLD's Q4 2024 earnings at $0.16 EPS, FY2024 earnings at $0.61 EPS, Q1 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.19 EPS and FY2025 earnings at $0.78 EPS.

A number of other equities research analysts also recently weighed in on IAG. Cibc World Mkts upgraded IAMGOLD from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 2nd. Canaccord Genuity Group upgraded IAMGOLD from a "hold" rating to a "buy" rating and boosted their target price for the stock from $7.75 to $10.50 in a research report on Tuesday, October 22nd. StockNews.com downgraded IAMGOLD from a "buy" rating to a "hold" rating in a research report on Wednesday, January 29th. CIBC upgraded IAMGOLD from a "neutral" rating to a "sector outperform" rating in a research report on Monday, December 2nd. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $6.00 target price on shares of IAMGOLD in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $6.57.

IAMGOLD Price Performance

IAG traded down $0.06 during trading on Monday, hitting $6.41. The company's stock had a trading volume of 11,268,177 shares, compared to its average volume of 12,636,900. The firm's 50 day moving average price is $5.61 and its two-hundred day moving average price is $5.24. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. IAMGOLD has a 12 month low of $2.32 and a 12 month high of $6.64. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 5.00 and a beta of 1.56.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last issued its quarterly earnings data on Thursday, November 7th. The mining company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.07. The firm had revenue of $438.90 million during the quarter. IAMGOLD had a return on equity of 10.01% and a net margin of 49.56%. During the same quarter in the previous year, the firm posted ($0.01) EPS. Sell-side analysts forecast that IAMGOLD will post 0.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its holdings in IAMGOLD by 107.9% during the third quarter. FMR LLC now owns 8,819,600 shares of the mining company's stock worth $46,174,000 after acquiring an additional 4,577,599 shares in the last quarter. Van ECK Associates Corp raised its holdings in IAMGOLD by 8.8% during the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company's stock worth $276,639,000 after acquiring an additional 4,267,084 shares in the last quarter. Two Sigma Advisers LP raised its holdings in IAMGOLD by 58.8% during the third quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company's stock worth $52,735,000 after acquiring an additional 3,732,315 shares in the last quarter. Bank of Montreal Can raised its holdings in IAMGOLD by 130.6% during the third quarter. Bank of Montreal Can now owns 5,384,778 shares of the mining company's stock worth $28,385,000 after acquiring an additional 3,049,252 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in IAMGOLD by 158.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company's stock worth $24,301,000 after acquiring an additional 2,839,556 shares in the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

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.