IAMGOLD FY2024 EPS Decreased by National Bank Financial

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Stock analysts at National Bank Financial lowered their FY2024 earnings estimates for shares of IAMGOLD in a report issued on Monday, February 10th. National Bank Financial analyst M. Parkin now anticipates that the mining company will post earnings per share of $0.56 for the year, down from their prior forecast of $0.57. The consensus estimate for IAMGOLD’s current full-year earnings is $0.57 per share. National Bank Financial also issued estimates for IAMGOLD’s Q4 2024 earnings at $0.12 EPS.

Several other research analysts also recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 target price on shares of IAMGOLD in a report on Tuesday, October 22nd. StockNews.com raised IAMGOLD from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and raised their target price for the company from $7.75 to $10.50 in a research note on Tuesday, October 22nd. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.57.

IAMGOLD Price Performance

Shares of IAMGOLD stock opened at $6.39 on Wednesday. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 4.99 and a beta of 1.56. The firm’s 50-day moving average price is $5.63 and its two-hundred day moving average price is $5.28. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. IAMGOLD has a 1-year low of $2.32 and a 1-year high of $6.64.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Tobam bought a new position in shares of IAMGOLD in the 4th quarter worth $25,000. ORG Partners LLC acquired a new position in IAMGOLD in the third quarter valued at about $29,000. Eastern Bank bought a new position in IAMGOLD during the third quarter worth about $30,000. Blue Trust Inc. grew its position in shares of IAMGOLD by 157.1% during the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock worth $47,000 after buying an additional 5,511 shares during the period. Finally, Raab & Moskowitz Asset Management LLC bought a new stake in shares of IAMGOLD in the 4th quarter valued at about $56,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

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.