Cormark Issues Optimistic Estimate for IAMGOLD Earnings

IAMGOLD Co. (TSE:IMG - Free Report) NYSE: IAG - Stock analysts at Cormark lifted their Q4 2024 earnings per share 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 per share of $0.21 for the quarter, up from their previous estimate of $0.15. The consensus estimate for IAMGOLD's current full-year earnings is $1.11 per share.

Several other research firms have also recently weighed in on IMG. Canaccord Genuity Group upgraded IAMGOLD from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 22nd. Royal Bank of Canada downgraded shares of IAMGOLD from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, September 10th. Stifel Nicolaus lifted their price target on shares of IAMGOLD from C$6.00 to C$9.00 in a research note on Monday, October 21st. National Bank Financial upgraded shares of IAMGOLD from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 9th. Finally, National Bankshares lifted their target price on IAMGOLD from C$11.00 to C$12.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of C$6.91.

IAMGOLD Stock Down 2.4 %

TSE IMG traded down C$0.19 during trading on Monday, reaching C$7.84. 1,161,993 shares of the company's stock were exchanged, compared to its average volume of 1,551,515. IAMGOLD has a 1 year low of C$2.87 and a 1 year high of C$8.80. The stock has a market cap of C$4.47 billion, a P/E ratio of 24.34, a price-to-earnings-growth 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. The company has a 50 day moving average price of C$7.08 and a two-hundred day moving average price of C$5.96.

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

Insider Buying and Selling at IAMGOLD

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