Scotiabank Has Bearish Forecast for Iamgold FY2026 Earnings

Iamgold Corporation (NYSE:IAG) (TSE:IMG) – Investment analysts at Scotiabank dropped their FY2026 EPS estimates for Iamgold in a research note issued to investors on Wednesday, July 15th. Scotiabank analyst T. Jakusconek now expects that the mining company will post earnings of $1.78 per share for the year, down from their previous estimate of $1.87. Scotiabank currently has a “Sector Perform” rating and a $22.00 target price on the stock. The consensus estimate for Iamgold’s current full-year earnings is $2.05 per share.

Several other equities research analysts have also commented on IAG. Bank of America dropped their price target on shares of Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Zacks Research downgraded Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Royal Bank Of Canada decreased their price objective on Iamgold from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Finally, Weiss Ratings cut Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Iamgold Trading Down 0.5%

Iamgold stock opened at $14.12 on Friday. Iamgold has a 52-week low of $6.69 and a 52-week high of $24.87. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of 8.21, a PEG ratio of 0.61 and a beta of 1.30. The firm has a 50-day moving average price of $16.46 and a two-hundred day moving average price of $18.30.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $955.17 million. Iamgold had a net margin of 29.49% and a return on equity of 26.65%.

Hedge Funds Weigh In On Iamgold

Institutional investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC acquired a new stake in shares of Iamgold in the second quarter worth $95,000. Empowered Funds LLC acquired a new position in Iamgold during the first quarter valued at $531,000. Western Wealth Management LLC purchased a new stake in Iamgold in the 1st quarter worth about $43,000. Bank of America Corp DE lifted its stake in Iamgold by 4.7% in the 1st quarter. Bank of America Corp DE now owns 9,589,342 shares of the mining company’s stock worth $180,471,000 after acquiring an additional 434,188 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in Iamgold during the 1st quarter worth about $13,056,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

About Iamgold

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.