National Bank Financial Research Analysts Raise Earnings Estimates for IAMGOLD Co. (NYSE:IAG)

IAMGOLD Co. (NYSE:IAG – Get Rating) (TSE:IMG) – Investment analysts at National Bank Financial raised their FY2022 earnings per share (EPS) estimates for shares of IAMGOLD in a research note issued on Wednesday, January 18th. National Bank Financial analyst M. Parkin now forecasts that the mining company will earn $0.02 per share for the year, up from their prior forecast of ($0.02). The consensus estimate for IAMGOLD’s current full-year earnings is ($0.02) per share. National Bank Financial also issued estimates for IAMGOLD’s FY2023 earnings at ($0.12) EPS.

IAMGOLD (NYSE:IAG – Get Rating) (TSE:IMG) last posted its quarterly earnings results on Tuesday, November 8th. The mining company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $343.30 million during the quarter. IAMGOLD had a positive return on equity of 2.18% and a negative net margin of 21.69%.

Several other research analysts also recently weighed in on the company. BMO Capital Markets increased their price target on IAMGOLD from $1.75 to $2.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 20th. Bank of America upgraded IAMGOLD from an “underperform” rating to a “buy” rating and cut their price target for the stock from $2.10 to $1.65 in a research note on Wednesday, October 19th. Stifel Nicolaus raised IAMGOLD from a “sell” rating to a “hold” rating in a report on Tuesday, December 20th. Raymond James increased their price objective on IAMGOLD from $1.75 to $2.00 and gave the stock an “underperform” rating in a report on Wednesday, December 21st. Finally, Canaccord Genuity Group raised IAMGOLD from a “sell” rating to a “hold” rating and increased their price objective for the stock from $1.50 to $3.00 in a report on Tuesday, December 20th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $2.66.

IAMGOLD Stock Up 2.6 %

IAG stock opened at $2.72 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.31 and a current ratio of 2.00. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -4.46, a PEG ratio of 76.58 and a beta of 1.38. IAMGOLD has a fifty-two week low of $0.92 and a fifty-two week high of $3.77. The stock has a fifty day moving average of $2.27 and a 200-day moving average of $1.66.

Institutional Trading of IAMGOLD

Several institutional investors and hedge funds have recently modified their holdings of IAG. Citigroup Inc. purchased a new stake in shares of IAMGOLD in the 1st quarter valued at about $31,000. First Trust Advisors LP purchased a new stake in shares of IAMGOLD in the 1st quarter valued at about $40,000. Private Advisor Group LLC purchased a new stake in shares of IAMGOLD in the 1st quarter valued at about $41,000. BlackRock Inc. raised its holdings in shares of IAMGOLD by 385.8% in the 3rd quarter. BlackRock Inc. now owns 63,767 shares of the mining company’s stock valued at $68,000 after acquiring an additional 50,642 shares in the last quarter. Finally, Flow Traders U.S. LLC purchased a new stake in shares of IAMGOLD in the 2nd quarter valued at about $78,000. Hedge funds and other institutional investors own 48.57% of the company’s stock.

About IAMGOLD

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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 Côté gold project, which covers an area of 586 square kilometer located in Ontario, Canada.