IAMGOLD Co. Expected to Post Q1 2024 Earnings of $0.04 Per Share (NYSE:IAG)

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Investment analysts at National Bank Financial issued their Q1 2024 EPS estimates for IAMGOLD in a research report issued on Thursday, April 18th. National Bank Financial analyst M. Parkin forecasts that the mining company will post earnings of $0.04 per share for the quarter. National Bank Financial has a “Sector Perform Spec Overwgt” rating on the stock. The consensus estimate for IAMGOLD’s current full-year earnings is $0.06 per share. National Bank Financial also issued estimates for IAMGOLD’s FY2024 earnings at $0.09 EPS and FY2025 earnings at $0.33 EPS.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data 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 company 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%.

Other analysts also recently issued research reports about the stock. BMO Capital Markets lifted their target price on shares of IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a report on Friday, April 5th. CIBC boosted their price objective on shares of IAMGOLD from $3.00 to $3.10 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. StockNews.com downgraded shares of IAMGOLD from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Scotiabank boosted their price objective on shares of IAMGOLD from $3.25 to $3.75 and gave the stock a “sector perform” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.55.

IAMGOLD Stock Up 0.5 %

Shares of NYSE:IAG opened at $3.66 on Monday. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 1.26 and a beta of 1.70. The firm’s 50-day simple moving average is $3.09 and its 200-day simple moving average is $2.66. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.36. IAMGOLD has a fifty-two week low of $1.99 and a fifty-two week high of $3.92.

Hedge Funds Weigh In On IAMGOLD

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Citigroup Inc. acquired a new position in shares of IAMGOLD during the 1st quarter valued at $31,000. Vident Advisory LLC purchased a new position in IAMGOLD in the fourth quarter valued at about $25,000. Raymond James Financial Services Advisors Inc. acquired a new stake in IAMGOLD during the 4th quarter valued at approximately $26,000. Dynamic Technology Lab Private Ltd purchased a new stake in IAMGOLD during the 4th quarter worth approximately $29,000. Finally, First Trust Advisors LP acquired a new position in shares of IAMGOLD in the 1st quarter valued at approximately $40,000. Institutional investors and hedge funds 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.