IAMGOLD FY2024 EPS Lowered by National Bank Financial

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Stock analysts at National Bank Financial reduced their FY2024 earnings per share (EPS) estimates for IAMGOLD in a report issued on Tuesday, January 14th. National Bank Financial analyst M. Parkin now anticipates that the mining company will post earnings of $0.57 per share for the year, down from their prior forecast of $0.66. National Bank Financial currently has a “Outperform” rating on the stock. The consensus estimate for IAMGOLD’s current full-year earnings is $0.60 per share. National Bank Financial also issued estimates for IAMGOLD’s FY2025 earnings at $0.79 EPS.

Other analysts have also recently issued reports about the stock. StockNews.com cut shares of IAMGOLD from a “buy” rating to a “hold” rating in a research note on Wednesday. Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating and raised their price target for the company from $7.75 to $10.50 in a research report on Tuesday, October 22nd. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, Raymond James lowered their target price on IAMGOLD from $6.50 to $6.00 and set an “underperform” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $6.57.

IAMGOLD Stock Up 2.2 %

IAG opened at $5.46 on Friday. IAMGOLD has a twelve month low of $2.23 and a twelve month high of $6.37. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. The business has a 50 day moving average price of $5.39 and a 200 day moving average price of $5.02. The firm has a market cap of $3.12 billion, a P/E ratio of 4.26 and a beta of 1.56.

Institutional Trading of IAMGOLD

Several institutional investors and hedge funds have recently added to or reduced their stakes in IAG. JPMorgan Chase & Co. boosted its stake in IAMGOLD by 66.6% in the third quarter. JPMorgan Chase & Co. now owns 1,511,328 shares of the mining company’s stock valued at $7,904,000 after acquiring an additional 604,259 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of IAMGOLD during the third quarter worth $267,000. Toronto Dominion Bank increased its holdings in IAMGOLD by 15.6% in the third quarter. Toronto Dominion Bank now owns 274,377 shares of the mining company’s stock valued at $1,435,000 after purchasing an additional 37,005 shares during the last quarter. Geode Capital Management LLC lifted its stake in IAMGOLD by 2.7% in the third quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company’s stock valued at $1,392,000 after buying an additional 6,874 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in IAMGOLD in the third quarter valued at about $1,083,000. 47.08% of the stock is owned by institutional investors.

IAMGOLD Company Profile

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.