IAMGOLD FY2024 EPS Estimate Cut by National Bank Financial

IAMGOLD Co. (TSE:IMG - Free Report) NYSE: IAG - Research analysts at National Bank Financial decreased their FY2024 earnings estimates for IAMGOLD in a research note issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now forecasts that the mining company will earn $0.87 per share for the year, down from their previous forecast of $0.90. National Bank Financial currently has a "Strong-Buy" rating on the stock. The consensus estimate for IAMGOLD's current full-year earnings is $1.11 per share. National Bank Financial also issued estimates for IAMGOLD's FY2025 earnings at $1.23 EPS.

Other equities research analysts also recently issued reports about the stock. Canaccord Genuity Group upgraded shares of IAMGOLD from a "hold" rating to a "strong-buy" rating in a report on Tuesday. National Bankshares lifted their target price on shares of IAMGOLD from C$11.00 to C$12.00 and gave the stock an "outperform" rating in a research note on Wednesday. Stifel Nicolaus boosted their price target on IAMGOLD from C$6.00 to C$9.00 in a report on Monday. Finally, Royal Bank of Canada cut IAMGOLD from a "moderate buy" rating to a "hold" rating in a report on Tuesday, September 10th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, IAMGOLD has a consensus rating of "Buy" and a consensus target price of C$6.91.

IAMGOLD Price Performance

IAMGOLD stock traded down C$0.28 during midday trading on Friday, reaching C$8.03. 1,172,427 shares of the company were exchanged, compared to its average volume of 1,553,396. The firm's 50-day simple moving average is C$7.08 and its 200-day simple moving average is C$5.96. IAMGOLD has a 1 year low of C$2.87 and a 1 year high of C$8.80. The company has a market capitalization of C$4.58 billion, a price-to-earnings ratio of 25.09, a P/E/G ratio of -0.28 and a beta of 1.47. The company has a debt-to-equity ratio of 35.17, a quick ratio of 1.19 and a current ratio of 1.34.

IAMGOLD (TSE:IMG - Get Free Report) NYSE: IAG last released its quarterly earnings results on Thursday, August 8th. The mining company reported C$0.22 earnings per share for the quarter, topping the consensus estimate of C$0.12 by C$0.10. IAMGOLD had a return on equity of 5.86% and a net margin of 10.36%. The company had revenue of C$527.18 million during the quarter.

Insiders Place Their Bets

In related news, Senior Officer Bruno Lemelin sold 14,000 shares of IAMGOLD stock in a transaction on Friday, August 23rd. The stock was sold at an average price of C$7.09, for a total value of C$99,206.80. 0.10% of the stock is currently owned by 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.