Raymond James Research Analysts Increase Earnings Estimates for IAMGOLD Co. (TSE:IMG)

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Equities research analysts at Raymond James lifted their Q1 2024 earnings per share estimates for IAMGOLD in a research note issued to investors on Tuesday, April 23rd. Raymond James analyst F. Hamed now anticipates that the mining company will earn $0.00 per share for the quarter, up from their prior forecast of ($0.05). The consensus estimate for IAMGOLD’s current full-year earnings is $0.07 per share. Raymond James also issued estimates for IAMGOLD’s Q2 2024 earnings at $0.05 EPS, Q3 2024 earnings at $0.11 EPS, Q4 2024 earnings at $0.14 EPS and FY2024 earnings at $0.32 EPS.

IMG has been the subject of several other reports. Canaccord Genuity Group increased their price objective on IAMGOLD from C$3.75 to C$5.50 in a report on Tuesday. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. Bank of America increased their price objective on IAMGOLD from C$4.40 to C$6.20 in a report on Tuesday, April 9th. National Bankshares increased their price objective on IAMGOLD from C$6.25 to C$6.50 in a report on Friday, April 19th. Finally, Stifel Nicolaus increased their price objective on IAMGOLD from C$3.00 to C$5.25 in a report on Friday, April 19th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, IAMGOLD presently has a consensus rating of “Hold” and an average target price of C$4.99.

IAMGOLD Price Performance

IMG opened at C$5.18 on Friday. The stock has a fifty day moving average of C$4.37 and a 200-day moving average of C$3.67. The firm has a market capitalization of C$2.57 billion, a P/E ratio of 21.58, a PEG ratio of -0.28 and a beta of 1.44. IAMGOLD has a 12-month low of C$2.71 and a 12-month high of C$5.38. The company has a quick ratio of 1.19, a current ratio of 1.20 and a debt-to-equity ratio of 42.05.

IAMGOLD (TSE:IMG) (NYSE:IAG) last released its earnings results on Thursday, February 15th. The mining company reported C$0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.02 by C$0.06. The company had revenue of C$405.19 million during the quarter. IAMGOLD had a return on equity of 4.36% and a net margin of 9.55%.

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.