FY2024 Earnings Forecast for IAMGOLD Issued By Raymond James

IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG - Equities research analysts at Raymond James decreased their FY2024 earnings per share (EPS) estimates for shares of IAMGOLD in a note issued to investors on Monday, February 3rd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings per share of $0.61 for the year, down from their previous forecast of $0.63. Raymond James has a "Hold" rating on the stock. The consensus estimate for IAMGOLD's current full-year earnings is $0.57 per share. Raymond James also issued estimates for IAMGOLD's Q4 2024 earnings at $0.16 EPS.

IAG has been the topic of several other research reports. Canaccord Genuity Group upgraded IAMGOLD from a "hold" rating to a "buy" rating and upped their target price for the company from $7.75 to $10.50 in a research report on Tuesday, October 22nd. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $6.00 price objective on shares of IAMGOLD in a research report on Tuesday, October 22nd. StockNews.com upgraded shares of IAMGOLD from a "hold" rating to a "buy" rating in a research report on Thursday. CIBC upgraded shares of IAMGOLD from a "neutral" rating to a "sector outperform" rating in a report on Monday, December 2nd. Finally, Canaccord Genuity Group upgraded shares of IAMGOLD from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $6.57.

IAMGOLD Trading Down 0.9 %

IAG traded down $0.06 during trading on Thursday, reaching $6.41. 11,268,177 shares of the stock traded hands, compared to its average volume of 12,636,900. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The stock's 50-day moving average is $5.61 and its 200 day moving average is $5.25. IAMGOLD has a 12 month low of $2.32 and a 12 month high of $6.64. The stock has a market capitalization of $3.66 billion, a PE ratio of 5.00 and a beta of 1.56.

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

Institutional Investors Weigh In On IAMGOLD

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tobam acquired a new position in IAMGOLD during the 4th quarter valued at about $25,000. ORG Partners LLC purchased a new position in shares of IAMGOLD during the third quarter valued at approximately $29,000. Eastern Bank bought a new stake in IAMGOLD during the third quarter worth $30,000. Blue Trust Inc. raised its position in IAMGOLD by 157.1% in the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company's stock valued at $47,000 after buying an additional 5,511 shares during the last quarter. Finally, Raab & Moskowitz Asset Management LLC bought a new position in IAMGOLD during the 4th quarter valued at $56,000. 47.08% of the stock is owned by institutional investors.

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.