IAMGOLD Co. (NYSE:IAG – Get Rating) (TSE:IMG) – Research analysts at Cormark raised their Q1 2022 EPS estimates for IAMGOLD in a research note issued on Monday, April 25th. Cormark analyst R. Gray now anticipates that the mining company will post earnings per share of $0.00 for the quarter, up from their previous estimate of ($0.03).
Several other research analysts have also commented on the stock. National Bank Financial lifted their price objective on shares of IAMGOLD from C$5.00 to C$5.50 in a research note on Wednesday, April 20th. BMO Capital Markets lowered shares of IAMGOLD from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $4.00 to $2.75 in a research note on Monday, April 18th. Zacks Investment Research upgraded IAMGOLD from a “sell” rating to a “hold” rating in a research report on Thursday, February 24th. Royal Bank of Canada downgraded IAMGOLD from a “sector perform” rating to an “underperform” rating and set a $2.00 target price for the company. in a research report on Wednesday, April 20th. Finally, TD Securities decreased their target price on IAMGOLD from C$6.00 to C$5.00 in a research report on Friday, January 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $3.58.
IAMGOLD (NYSE:IAG – Get Rating) (TSE:IMG) last posted its quarterly earnings data on Wednesday, February 23rd. The mining company reported $0.09 EPS for the quarter. The company had revenue of $294.60 million during the quarter, compared to analyst estimates of $296.07 million. IAMGOLD had a negative net margin of 22.09% and a positive return on equity of 1.07%. During the same period in the previous year, the firm earned $0.04 earnings per share.
Several hedge funds have recently added to or reduced their stakes in IAG. Polunin Capital Partners Ltd bought a new stake in shares of IAMGOLD in the fourth quarter valued at about $31,851,000. Norges Bank bought a new position in IAMGOLD in the fourth quarter worth about $15,251,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in IAMGOLD in the fourth quarter worth about $4,293,000. American Century Companies Inc. raised its holdings in IAMGOLD by 294.5% in the fourth quarter. American Century Companies Inc. now owns 1,546,594 shares of the mining company’s stock worth $4,834,000 after purchasing an additional 1,154,548 shares in the last quarter. Finally, Donald Smith & CO. Inc. raised its holdings in IAMGOLD by 2.4% in the third quarter. Donald Smith & CO. Inc. now owns 41,333,683 shares of the mining company’s stock worth $93,414,000 after purchasing an additional 976,149 shares in the last quarter. Hedge funds and other institutional investors own 46.66% of the company’s stock.
About IAMGOLD (Get Rating)
IAMGOLD Corporation, through its subsidiaries, explores, develops, and operates gold mining properties in North America, South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine situated in Burkina Faso and Boto gold project located in Senegal, West Africa; and Westwood mine, covers an area of 1,925 hectare and located in Quebec and the CÃ´tÃ© gold project, which covers an area of 586 square kilometer located in Ontario, Canada.
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