Scotiabank Issues Pessimistic Estimate for IAMGOLD Earnings

IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG - Stock analysts at Scotiabank lowered their FY2026 earnings estimates for IAMGOLD in a research report issued on Wednesday, March 19th. Scotiabank analyst T. Jakusconek now forecasts that the mining company will post earnings of $0.43 per share for the year, down from their prior forecast of $0.54. The consensus estimate for IAMGOLD's current full-year earnings is $0.67 per share.

A number of other research analysts have also commented on the company. National Bank Financial upgraded IAMGOLD to a "strong-buy" rating in a report on Friday, March 21st. Raymond James upgraded IAMGOLD from a "strong sell" rating to a "hold" rating in a research note on Monday, February 3rd. Cibc World Mkts raised IAMGOLD from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 2nd. StockNews.com cut shares of IAMGOLD from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Finally, CIBC reaffirmed an "outperform" rating on shares of IAMGOLD in a research note on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $6.90.

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IAMGOLD Stock Up 5.2 %

Shares of IAMGOLD stock traded up $0.32 during trading on Monday, hitting $6.43. 10,502,866 shares of the stock traded hands, compared to its average volume of 9,593,962. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. The stock has a market cap of $3.68 billion, a P/E ratio of 4.43 and a beta of 1.63. IAMGOLD has a twelve month low of $3.10 and a twelve month high of $6.69. The company has a fifty day moving average price of $5.96 and a two-hundred day moving average price of $5.56.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last released its quarterly earnings results on Thursday, February 20th. The mining company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.05). IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The company had revenue of $469.90 million during the quarter, compared to analyst estimates of $498.68 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IAG. Donald Smith & CO. Inc. boosted its stake in shares of IAMGOLD by 0.7% in the 4th quarter. Donald Smith & CO. Inc. now owns 31,233,874 shares of the mining company's stock worth $161,167,000 after buying an additional 216,751 shares during the last quarter. RCF Management L.L.C. purchased a new stake in shares of IAMGOLD in the fourth quarter worth about $128,174,000. Vanguard Group Inc. grew its position in shares of IAMGOLD by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 21,232,871 shares of the mining company's stock valued at $109,741,000 after purchasing an additional 321,458 shares in the last quarter. Millennium Management LLC increased its stake in IAMGOLD by 88.4% in the 4th quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company's stock worth $53,307,000 after acquiring an additional 4,846,254 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in IAMGOLD by 25.9% during the fourth quarter. American Century Companies Inc. now owns 10,162,314 shares of the mining company's stock valued at $52,499,000 after purchasing an additional 2,092,803 shares during the last quarter. 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.