Scotiabank Has Bearish Forecast for Iamgold FY2025 Earnings

Iamgold Corporation (NYSE:IAG) (TSE:IMG) – Equities research analysts at Scotiabank reduced their FY2025 earnings per share (EPS) estimates for shares of Iamgold in a report issued on Tuesday, October 28th. Scotiabank analyst T. Jakusconek now forecasts that the mining company will earn $0.77 per share for the year, down from their prior forecast of $0.87. Scotiabank has a “Sector Perform” rating and a $15.00 price objective on the stock. The consensus estimate for Iamgold’s current full-year earnings is $0.67 per share. Scotiabank also issued estimates for Iamgold’s FY2026 earnings at $1.24 EPS.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, August 7th. The mining company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The company had revenue of $587.21 million during the quarter, compared to analysts’ expectations of $663.21 million. Iamgold had a return on equity of 8.54% and a net margin of 40.61%.

A number of other research firms have also recently weighed in on IAG. Royal Bank Of Canada upgraded Iamgold from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $9.00 to $14.00 in a report on Wednesday, September 10th. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a report on Wednesday, October 8th. Raymond James Financial increased their target price on Iamgold from $9.00 to $13.00 and gave the company a “market perform” rating in a research note on Friday, October 10th. Stifel Canada upgraded Iamgold from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Finally, Zacks Research cut Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Iamgold presently has an average rating of “Buy” and a consensus price target of $15.25.

Iamgold Stock Down 0.7%

NYSE IAG opened at $11.58 on Friday. The stock has a market cap of $6.66 billion, a PE ratio of 8.33, a P/E/G ratio of 0.39 and a beta of 1.24. Iamgold has a fifty-two week low of $4.89 and a fifty-two week high of $14.67. The business has a 50 day moving average price of $11.64 and a two-hundred day moving average price of $8.78. The company has a quick ratio of 0.76, a current ratio of 1.47 and a debt-to-equity ratio of 0.31.

Hedge Funds Weigh In On Iamgold

Several institutional investors and hedge funds have recently made changes to their positions in IAG. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Iamgold during the 1st quarter valued at approximately $647,000. Allspring Global Investments Holdings LLC raised its position in shares of Iamgold by 56.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,017,000 shares of the mining company’s stock valued at $12,589,000 after acquiring an additional 728,000 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Iamgold by 40.6% during the 1st quarter. Bank of New York Mellon Corp now owns 49,282 shares of the mining company’s stock valued at $308,000 after acquiring an additional 14,236 shares in the last quarter. Ninety One UK Ltd acquired a new stake in shares of Iamgold during the 1st quarter valued at approximately $14,678,000. Finally, Alps Advisors Inc. acquired a new stake in shares of Iamgold during the 1st quarter valued at approximately $840,000. 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.