Raymond James Equities Analysts Boost Earnings Estimates for IAMGOLD Co. (NYSE:IAG)

IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG - Stock analysts at Raymond James upped their Q3 2024 earnings per share (EPS) estimates for IAMGOLD in a note issued to investors on Monday, September 23rd. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings per share of $0.18 for the quarter, up from their previous forecast of $0.10. The consensus estimate for IAMGOLD's current full-year earnings is $0.45 per share. Raymond James also issued estimates for IAMGOLD's Q4 2024 earnings at $0.18 EPS, FY2024 earnings at $0.63 EPS, Q1 2025 earnings at $0.24 EPS, Q2 2025 earnings at $0.24 EPS, Q3 2025 earnings at $0.24 EPS, Q4 2025 earnings at $0.24 EPS and FY2025 earnings at $0.97 EPS.

A number of other research analysts have also commented on IAG. StockNews.com raised IAMGOLD from a "sell" rating to a "hold" rating in a report on Saturday, August 17th. BMO Capital Markets reissued an "outperform" rating and set a $5.00 price target on shares of IAMGOLD in a report on Thursday, June 6th. CIBC raised their price target on IAMGOLD from $4.90 to $5.40 and gave the company a "neutral" rating in a report on Monday, August 12th. Finally, Scotiabank raised their price target on IAMGOLD from $4.75 to $5.50 and gave the company a "sector perform" rating in a report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $4.73.

IAMGOLD Stock Performance

NYSE IAG traded up $0.01 during trading hours on Thursday, hitting $5.51. The company had a trading volume of 14,481,455 shares, compared to its average volume of 9,072,152. The firm has a market cap of $3.14 billion, a P/E ratio of 19.68 and a beta of 1.58. The company has a quick ratio of 0.90, a current ratio of 1.34 and a debt-to-equity ratio of 0.30. IAMGOLD has a fifty-two week low of $1.99 and a fifty-two week high of $5.60. The business has a fifty day simple moving average of $4.72 and a 200-day simple moving average of $4.07.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last issued its earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.08. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. The firm had revenue of $385.30 million for the quarter. During the same period in the prior year, the business earned ($0.01) earnings per share.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. TIAA Trust National Association bought a new position in IAMGOLD during the second quarter valued at about $38,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of IAMGOLD in the 4th quarter valued at $29,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of IAMGOLD in the 4th quarter valued at $33,000. WINTON GROUP Ltd acquired a new position in shares of IAMGOLD in the 2nd quarter valued at $52,000. Finally, Banque Cantonale Vaudoise acquired a new position in shares of IAMGOLD in the 2nd quarter valued at $56,000. Institutional investors 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.