FY2024 Earnings Estimate for IAMGOLD Issued By Stifel Canada

IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG - Research analysts at Stifel Canada decreased their FY2024 earnings per share (EPS) estimates for shares of IAMGOLD in a note issued to investors on Tuesday, February 4th. Stifel Canada analyst I. Rico now anticipates that the mining company will earn $0.60 per share for the year, down from their previous forecast of $0.64. The consensus estimate for IAMGOLD's current full-year earnings is $0.57 per share. Stifel Canada also issued estimates for IAMGOLD's FY2025 earnings at $0.79 EPS and FY2026 earnings at $0.97 EPS.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings data on Thursday, November 7th. The mining company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.07. IAMGOLD had a net margin of 49.56% and a return on equity of 10.01%. The firm had revenue of $438.90 million during the quarter. During the same period in the prior year, the company posted ($0.01) EPS.

A number of other research firms have also recently weighed in on IAG. StockNews.com upgraded IAMGOLD from a "hold" rating to a "buy" rating in a report on Thursday. Canaccord Genuity Group raised shares of IAMGOLD from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. CIBC raised shares of IAMGOLD from a "neutral" rating to a "sector outperform" rating in a research note on Monday, December 2nd. Cibc World Mkts upgraded shares of IAMGOLD from a "hold" rating to a "strong-buy" rating in a report on Monday, December 2nd. Finally, Raymond James upgraded shares of IAMGOLD from a "strong sell" rating to a "hold" rating in a report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, IAMGOLD has an average rating of "Moderate Buy" and an average target price of $6.57.

IAMGOLD Trading Up 0.7 %

IAMGOLD stock traded up $0.05 during mid-day trading on Friday, hitting $6.46. The company's stock had a trading volume of 11,425,532 shares, compared to its average volume of 12,358,530. The stock's fifty day moving average is $5.61 and its two-hundred day moving average is $5.26. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $3.69 billion, a PE ratio of 5.05 and a beta of 1.56. IAMGOLD has a 1 year low of $2.32 and a 1 year high of $6.64.

Institutional Investors Weigh In On IAMGOLD

A number of hedge funds have recently added to or reduced their stakes in IAG. Van ECK Associates Corp increased its holdings in IAMGOLD by 8.8% in the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company's stock valued at $276,639,000 after buying an additional 4,267,084 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of IAMGOLD by 58.8% during the 3rd quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company's stock worth $52,735,000 after acquiring an additional 3,732,315 shares in the last quarter. FMR LLC lifted its stake in IAMGOLD by 107.9% during the third quarter. FMR LLC now owns 8,819,600 shares of the mining company's stock worth $46,174,000 after purchasing an additional 4,577,599 shares during the last quarter. Bank of Montreal Can boosted its holdings in IAMGOLD by 130.6% in the third quarter. Bank of Montreal Can now owns 5,384,778 shares of the mining company's stock valued at $28,385,000 after purchasing an additional 3,049,252 shares in the last quarter. Finally, Cibc World Market Inc. increased its stake in IAMGOLD by 54.0% in the fourth quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company's stock valued at $26,452,000 after purchasing an additional 1,795,869 shares during the last quarter. 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.