National Bank Financial Comments on IAMGOLD FY2024 Earnings

IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG - National Bank Financial cut their FY2024 earnings per share estimates for shares of IAMGOLD in a research note issued to investors on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now expects that the mining company will post earnings of $0.63 per share for the year, down from their previous forecast of $0.66. National Bank Financial currently has a "Outperform" rating on the stock. The consensus estimate for IAMGOLD's current full-year earnings is $0.49 per share. National Bank Financial also issued estimates for IAMGOLD's FY2025 earnings at $0.89 EPS.

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 analysts' consensus estimates of $0.08 by $0.08. The business had revenue of $385.30 million for the quarter. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. During the same quarter in the previous year, the firm posted ($0.01) earnings per share.

A number of other equities analysts also recently weighed in on IAG. Canaccord Genuity Group raised IAMGOLD from a "hold" rating to a "buy" rating in a research report on Tuesday. Royal Bank of Canada restated a "sector perform" rating and issued a $6.00 price target on shares of IAMGOLD in a research note on Tuesday. Canaccord Genuity Group raised IAMGOLD from a "hold" rating to a "buy" rating and raised their price target for the company from $7.75 to $10.50 in a report on Tuesday. Scotiabank upped their price objective on shares of IAMGOLD from $4.75 to $5.50 and gave the company a "sector perform" rating in a report on Monday, August 19th. Finally, StockNews.com raised shares of IAMGOLD from a "sell" rating to a "hold" rating in a research report on Saturday, August 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $6.07.

IAMGOLD Stock Performance

Shares of IAMGOLD stock traded down $0.23 during trading on Friday, hitting $5.77. 6,500,914 shares of the stock were exchanged, compared to its average volume of 9,170,397. IAMGOLD has a 1-year low of $2.11 and a 1-year high of $6.37. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 20.59 and a beta of 1.59. The company has a fifty day moving average price of $5.20 and a 200-day moving average price of $4.37. The company has a current ratio of 1.34, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30.

Hedge Funds Weigh In On IAMGOLD

Several institutional investors and hedge funds have recently modified their holdings of the business. Semanteon Capital Management LP acquired a new stake in shares of IAMGOLD in the third quarter valued at approximately $503,000. Leuthold Group LLC acquired a new position in IAMGOLD in the 3rd quarter valued at $2,951,000. International Assets Investment Management LLC bought a new stake in shares of IAMGOLD during the 3rd quarter valued at $700,000. Eastern Bank acquired a new stake in shares of IAMGOLD during the 3rd quarter worth $30,000. Finally, U S Global Investors Inc. increased its position in shares of IAMGOLD by 241.6% in the third quarter. U S Global Investors Inc. now owns 854,114 shares of the mining company's stock worth $4,467,000 after purchasing an additional 604,114 shares during the period. 47.08% of the stock is currently 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.