Q1 2024 Earnings Forecast for IAMGOLD Co. (NYSE:IAG) Issued By Cormark

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Cormark upped their Q1 2024 earnings per share (EPS) estimates for shares of IAMGOLD in a research note issued on Monday, April 22nd. Cormark analyst R. Gray now anticipates that the mining company will earn $0.00 per share for the quarter, up from their prior estimate of ($0.01). The consensus estimate for IAMGOLD’s current full-year earnings is $0.06 per share.

Other equities research analysts have also issued reports about the company. Scotiabank raised their target price on IAMGOLD from $3.25 to $3.75 and gave the company a “sector perform” rating in a research report on Thursday, April 18th. BMO Capital Markets raised their target price on IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a research report on Friday, April 5th. CIBC raised their target price on IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. Finally, StockNews.com lowered IAMGOLD from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $3.55.

IAMGOLD Trading Up 6.0 %

Shares of IAMGOLD stock opened at $3.70 on Tuesday. IAMGOLD has a 1 year low of $1.99 and a 1 year high of $3.92. The firm has a market cap of $1.84 billion, a PE ratio of 19.47, a P/E/G ratio of 1.46 and a beta of 1.69. The stock has a fifty day moving average price of $3.14 and a 200-day moving average price of $2.68. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.77.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The business had revenue of $297.60 million during the quarter. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. bought a new position in IAMGOLD in the 4th quarter worth about $26,000. Dynamic Technology Lab Private Ltd bought a new position in IAMGOLD in the 4th quarter worth about $29,000. Stratos Wealth Partners LTD. bought a new position in IAMGOLD in the 3rd quarter worth about $32,000. Vanguard Personalized Indexing Management LLC bought a new position in IAMGOLD in the 4th quarter worth about $33,000. Finally, Koshinski Asset Management Inc. bought a new position in IAMGOLD in the 4th quarter worth about $34,000. Institutional investors own 47.08% of the company’s stock.

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.