Cormark Has Bullish Estimate for IAMGOLD FY2024 Earnings

by · The Cerbat Gem

IAMGOLD Co. (NYSE:IAG – Free Report) (TSE:IMG) – Investment analysts at Cormark boosted their FY2024 earnings per share (EPS) estimates for IAMGOLD in a research report issued to clients and investors on Monday, November 11th. Cormark analyst R. Gray now anticipates that the mining company will post earnings per share of $0.62 for the year, up from their prior estimate of $0.49. The consensus estimate for IAMGOLD’s current full-year earnings is $0.53 per share. Cormark also issued estimates for IAMGOLD’s Q4 2024 earnings at $0.16 EPS and FY2025 earnings at $0.94 EPS.

A number of other analysts also recently issued reports on IAG. StockNews.com raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research report on Monday. Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 price objective on shares of IAMGOLD in a research report on Tuesday, October 22nd. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. CIBC increased their price target on IAMGOLD from $5.40 to $6.40 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, National Bank Financial upgraded IAMGOLD from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.68.

View Our Latest Research Report on IAMGOLD

IAMGOLD Stock Performance

Shares of NYSE:IAG opened at $5.03 on Wednesday. The firm has a market capitalization of $2.87 billion, a PE ratio of 3.93 and a beta of 1.57. IAMGOLD has a 12 month low of $2.11 and a 12 month high of $6.37. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. The business has a 50-day moving average of $5.28 and a two-hundred day moving average of $4.53.

Hedge Funds Weigh In On IAMGOLD

A number of institutional investors have recently added to or reduced their stakes in IAG. ORG Partners LLC acquired a new stake in IAMGOLD in the third quarter valued at $29,000. Eastern Bank bought a new stake in shares of IAMGOLD during the third quarter valued at approximately $30,000. Aigen Investment Management LP boosted its position in shares of IAMGOLD by 10.6% during the third quarter. Aigen Investment Management LP now owns 70,244 shares of the mining company’s stock worth $368,000 after buying an additional 6,704 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in IAMGOLD by 3.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company’s stock worth $1,154,000 after buying an additional 8,972 shares in the last quarter. Finally, Continuum Advisory LLC increased its position in IAMGOLD by 92.9% in the 2nd quarter. Continuum Advisory LLC now owns 20,450 shares of the mining company’s stock valued at $77,000 after acquiring an additional 9,850 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.

IAMGOLD Company Profile

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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.

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