IAMGOLD FY2024 EPS Decreased by National Bank Financial

IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG - Equities research analysts at National Bank Financial decreased their FY2024 earnings estimates for shares of IAMGOLD in a research note issued on Tuesday, January 14th. National Bank Financial analyst M. Parkin now expects that the mining company will earn $0.57 per share for the year, down from their prior estimate of $0.66. National Bank Financial has a "Outperform" rating on the stock. The consensus estimate for IAMGOLD's current full-year earnings is $0.60 per share. National Bank Financial also issued estimates for IAMGOLD's FY2025 earnings at $0.79 EPS.

A number of other equities research analysts also recently issued reports on IAG. CIBC upgraded shares of IAMGOLD from a "neutral" rating to a "sector outperform" rating in a report on Monday, December 2nd. Royal Bank of Canada reissued a "sector perform" rating and set a $6.00 price objective on shares of IAMGOLD in a research note on Tuesday, October 22nd. Raymond James reduced their target price on IAMGOLD from $6.50 to $6.00 and set an "underperform" rating on the stock in a report on Wednesday. Canaccord Genuity Group upgraded IAMGOLD from a "hold" rating to a "buy" rating and upped their price target for the stock from $7.75 to $10.50 in a research note on Tuesday, October 22nd. Finally, Cibc World Mkts upgraded IAMGOLD from a "hold" rating to a "strong-buy" rating in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $6.57.

IAMGOLD Trading Up 2.7 %

NYSE IAG traded up $0.15 during trading hours on Friday, hitting $5.60. 11,591,368 shares of the company's stock were exchanged, compared to its average volume of 11,463,815. The business's 50 day moving average is $5.39 and its 200-day moving average is $5.03. 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 12-month low of $2.23 and a 12-month high of $6.37. The firm has a market capitalization of $3.20 billion, a P/E ratio of 4.37 and a beta of 1.56.

Institutional Trading of IAMGOLD

Several institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of IAMGOLD by 66.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,511,328 shares of the mining company's stock worth $7,904,000 after buying an additional 604,259 shares during the last quarter. Virtu Financial LLC acquired a new position in IAMGOLD during the 3rd quarter valued at approximately $267,000. Toronto Dominion Bank grew its stake in IAMGOLD by 15.6% during the 3rd quarter. Toronto Dominion Bank now owns 274,377 shares of the mining company's stock worth $1,435,000 after buying an additional 37,005 shares during the last quarter. Geode Capital Management LLC increased its position in IAMGOLD by 2.7% in the third quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company's stock worth $1,392,000 after buying an additional 6,874 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in IAMGOLD in the third quarter worth $1,083,000. 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.