Q3 2023 EPS Estimates for IAMGOLD Co. (NYSE:IAG) Boosted by Raymond James

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Raymond James boosted their Q3 2023 earnings per share estimates for shares of IAMGOLD in a report released on Monday, October 30th. Raymond James analyst F. Hamed now anticipates that the mining company will earn ($0.03) per share for the quarter, up from their previous estimate of ($0.04). Raymond James currently has a “Underperform” rating and a $3.00 target price on the stock. The consensus estimate for IAMGOLD’s current full-year earnings is $0.01 per share. Raymond James also issued estimates for IAMGOLD’s Q4 2023 earnings at ($0.01) EPS and FY2023 earnings at $0.00 EPS.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Friday, August 11th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. The business had revenue of $238.80 million for the quarter. IAMGOLD had a negative return on equity of 0.05% and a net margin of 1.99%. During the same period in the prior year, the company posted ($0.01) earnings per share.

Several other research firms have also issued reports on IAG. TD Securities dropped their price target on IAMGOLD from $6.00 to $5.50 and set a “buy” rating on the stock in a research report on Monday, August 14th. CSFB dropped their price target on IAMGOLD from $3.00 to $2.50 and set a “neutral” rating on the stock in a research report on Thursday, August 17th. StockNews.com started coverage on IAMGOLD in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada raised IAMGOLD from an “underperform” rating to a “sector perform” rating and increased their target price for the stock from $1.75 to $2.75 in a research report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $3.26.

IAMGOLD Stock Performance

IAG stock opened at $2.55 on Thursday. The company has a current ratio of 2.38, a quick ratio of 1.87 and a debt-to-equity ratio of 0.36. The firm has a market cap of $1.22 billion, a P/E ratio of 84.86, a P/E/G ratio of 4.78 and a beta of 1.46. IAMGOLD has a 12-month low of $1.30 and a 12-month high of $3.34. The stock’s 50 day simple moving average is $2.32 and its 200 day simple moving average is $2.60.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Citigroup Inc. acquired a new position in shares of IAMGOLD in the 1st quarter valued at $31,000. Stratos Wealth Partners LTD. purchased a new stake in IAMGOLD in the 3rd quarter worth about $32,000. ExodusPoint Capital Management LP purchased a new stake in IAMGOLD in the 2nd quarter worth about $39,000. First Trust Advisors LP purchased a new stake in IAMGOLD in the 1st quarter worth about $40,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in IAMGOLD in the 2nd quarter worth about $40,000. Institutional investors own 49.40% of the company’s stock.

IAMGOLD Company Profile

IAMGOLD Corporation, through its subsidiaries, explores, develops, and operates gold mining properties in North America and West Africa. The company owns 100% interest in the Westwood mine, covers an area of 1,925 hectare and located in Quebec and the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and 90% interests in the Essakane mine situated in Burkina Faso and Boto gold project located in Senegal, West Africa.