FY2024 Earnings Forecast for IAMGOLD Issued By Scotiabank

IAMGOLD Co. (TSE:IMG - Free Report) NYSE: IAG - Analysts at Scotiabank upped their FY2024 earnings per share estimates for IAMGOLD in a report released on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now anticipates that the mining company will post earnings of $0.78 per share for the year, up from their prior estimate of $0.61. The consensus estimate for IAMGOLD's current full-year earnings is $1.11 per share. Scotiabank also issued estimates for IAMGOLD's FY2025 earnings at $0.92 EPS and FY2026 earnings at $0.78 EPS.

Other research analysts have also issued reports about the company. Canaccord Genuity Group upgraded IAMGOLD from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 22nd. National Bank Financial raised shares of IAMGOLD from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 9th. National Bankshares reduced their price target on shares of IAMGOLD from C$12.50 to C$12.00 and set an "outperform" rating on the stock in a research note on Thursday. Cibc World Mkts raised IAMGOLD from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 2nd. Finally, Stifel Nicolaus raised their price target on IAMGOLD from C$6.00 to C$9.00 in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, IAMGOLD has a consensus rating of "Buy" and an average target price of C$8.30.

IAMGOLD Trading Down 3.2 %

Shares of IMG traded down C$0.26 during mid-day trading on Monday, reaching C$7.92. The stock had a trading volume of 907,168 shares, compared to its average volume of 1,268,451. IAMGOLD has a 52-week low of C$3.00 and a 52-week high of C$8.80. The firm has a market cap of C$4.52 billion, a price-to-earnings ratio of 24.75, a P/E/G ratio of -0.28 and a beta of 1.47. The business's fifty day moving average is C$7.60 and its 200 day moving average is C$6.87. The company has a debt-to-equity ratio of 35.17, a current ratio of 1.34 and a quick ratio of 1.19.

Insider Buying and Selling at IAMGOLD

In related news, Senior Officer Timothy Bradburn sold 16,800 shares of the company's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of C$8.10, for a total value of C$136,080.00. Also, Senior Officer Stephen Eddy sold 16,100 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of C$7.80, for a total transaction of C$125,580.00. 0.10% of the stock is owned by corporate insiders.

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.