Research Analysts Offer Predictions for IAMGOLD Q4 Earnings

IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG - Analysts at Cormark raised their Q4 2024 EPS estimates for shares of IAMGOLD in a research report issued to clients and investors on Thursday, October 24th. Cormark analyst R. Gray now forecasts that the mining company will post earnings of $0.15 per share for the quarter, up from their prior estimate of $0.11. The consensus estimate for IAMGOLD's current full-year earnings is $0.51 per share.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last posted its quarterly 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 company had revenue of $385.30 million during the quarter. During the same quarter in the previous year, the company posted ($0.01) EPS.

Several other equities research analysts also recently issued reports on IAG. Canaccord Genuity Group upgraded IAMGOLD from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Royal Bank of Canada restated a "sector perform" rating and issued a $6.00 target price on shares of IAMGOLD in a research note on Tuesday, October 22nd. CIBC upped their price target on IAMGOLD from $5.40 to $6.40 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd. National Bank Financial upgraded shares of IAMGOLD from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 10th. Finally, StockNews.com raised shares of IAMGOLD from a "sell" rating to a "hold" rating in a report on Saturday, August 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, IAMGOLD has an average rating of "Hold" and a consensus target price of $6.07.

IAMGOLD Stock Performance

Shares of NYSE IAG traded down $0.12 during midday trading on Monday, hitting $5.65. The company's stock had a trading volume of 4,823,623 shares, compared to its average volume of 9,149,578. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 20.18 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average price of $5.20 and a 200 day moving average price of $4.38. IAMGOLD has a one year low of $2.11 and a one year high of $6.37.

Hedge Funds Weigh In On IAMGOLD

A number of institutional investors have recently made changes to their positions in IAG. 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 third quarter worth about $30,000. TIAA Trust National Association bought a new stake in shares of IAMGOLD in the 2nd quarter valued at about $38,000. International Assets Investment Management LLC purchased a new stake in IAMGOLD during the 3rd quarter valued at about $700,000. Finally, WINTON GROUP Ltd bought a new position in IAMGOLD during the 2nd quarter worth approximately $52,000. Institutional investors own 47.08% of the company's stock.

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.