IAMGOLD Co. (NYSE:IAG) to Post Q1 2024 Earnings of $0.00 Per Share, Raymond James Forecasts

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Analysts at Raymond James lifted their Q1 2024 earnings estimates for shares of IAMGOLD in a research report issued to clients and investors on Tuesday, April 23rd. Raymond James analyst F. Hamed now anticipates that the mining company will post earnings of $0.00 per share for the quarter, up from their previous estimate of ($0.04). The consensus estimate for IAMGOLD’s current full-year earnings is $0.10 per share. Raymond James also issued estimates for IAMGOLD’s Q2 2024 earnings at $0.04 EPS, Q3 2024 earnings at $0.08 EPS, Q4 2024 earnings at $0.10 EPS and FY2024 earnings at $0.23 EPS.

A number of other analysts have also issued reports on IAG. CIBC boosted their price target on shares of IAMGOLD from $3.00 to $3.10 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Scotiabank boosted their price target on shares of IAMGOLD from $3.25 to $3.75 and gave the stock a “sector perform” rating in a research note on Thursday, April 18th. BMO Capital Markets boosted their price target on shares of IAMGOLD from $4.00 to $4.25 and gave the stock an “outperform” rating in a research note on Friday, April 5th. StockNews.com upgraded shares of IAMGOLD from a “sell” rating to a “hold” rating in a research note on Friday. Finally, National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $3.55.

IAMGOLD Stock Up 2.0 %

Shares of IAG opened at $3.79 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.36. The firm has a market cap of $1.88 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 0.93 and a beta of 1.70. The company’s 50-day moving average price is $3.21 and its 200 day moving average price is $2.71. IAMGOLD has a 12-month low of $1.99 and a 12-month high of $3.92.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Thursday, February 15th. The mining company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.04. The firm had revenue of $297.60 million for the quarter. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%.

Institutional Trading of IAMGOLD

Large investors have recently made changes to their positions in the company. Euro Pacific Asset Management LLC increased its stake in shares of IAMGOLD by 48.1% during the fourth quarter. Euro Pacific Asset Management LLC now owns 2,727,065 shares of the mining company’s stock worth $6,898,000 after buying an additional 885,697 shares during the period. Intact Investment Management Inc. acquired a new position in IAMGOLD in the third quarter valued at approximately $916,000. Sprott Inc. boosted its holdings in IAMGOLD by 888.7% in the third quarter. Sprott Inc. now owns 1,279,400 shares of the mining company’s stock valued at $2,751,000 after purchasing an additional 1,150,000 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in IAMGOLD by 54.5% in the third quarter. Qube Research & Technologies Ltd now owns 976,698 shares of the mining company’s stock valued at $2,100,000 after purchasing an additional 344,691 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in IAMGOLD by 0.9% in the third quarter. Public Sector Pension Investment Board now owns 987,468 shares of the mining company’s stock valued at $2,140,000 after purchasing an additional 8,485 shares in the last quarter. 47.08% of the stock is currently owned by hedge funds and other 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.