Cormark Analysts Decrease Earnings Estimates for IAMGOLD

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Stock analysts at Cormark decreased their FY2024 EPS estimates for IAMGOLD in a report released on Wednesday, January 15th. Cormark analyst R. Gray now expects that the mining company will post earnings per share of $0.82 for the year, down from their previous forecast of $0.86. The consensus estimate for IAMGOLD’s current full-year earnings is $1.11 per share. Cormark also issued estimates for IAMGOLD’s Q4 2024 earnings at $0.17 EPS, Q1 2025 earnings at $0.17 EPS, Q2 2025 earnings at $0.19 EPS, FY2025 earnings at $0.89 EPS and FY2026 earnings at $1.63 EPS.

Several other research analysts have also recently weighed in on the stock. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus raised their price target on IAMGOLD from C$6.00 to C$9.00 in a research report on Monday, October 21st. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. National Bankshares lowered their price target on IAMGOLD from C$12.50 to C$12.00 and set an “outperform” rating for the company in a research report on Thursday, January 9th. Finally, National Bank Financial upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, IAMGOLD has a consensus rating of “Buy” and a consensus price target of C$8.30.

IAMGOLD Price Performance

Shares of TSE IMG opened at C$8.28 on Monday. The stock’s 50-day simple moving average is C$7.66 and its two-hundred day simple moving average is C$6.98. IAMGOLD has a twelve month low of C$3.06 and a twelve month high of C$8.80. The firm has a market capitalization of C$4.72 billion, a P/E ratio of 25.88, a P/E/G ratio of -0.28 and a beta of 1.47. The company has a quick ratio of 1.19, a current ratio of 1.34 and a debt-to-equity ratio of 35.17.

IAMGOLD (TSE:IMG) (NYSE:IAG) last posted its quarterly earnings results on Thursday, November 7th. The mining company reported C$0.24 EPS for the quarter, topping analysts’ consensus estimates of C$0.15 by C$0.09. IAMGOLD had a return on equity of 5.86% and a net margin of 10.36%. During the same period last year, the company earned ($0.01) earnings per share.

Insiders Place Their Bets

In other news, Senior Officer Stephen Eddy sold 16,100 shares of IAMGOLD stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of C$7.80, for a total value of C$125,580.00. Also, Director Renaud Adams bought 36,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was purchased at an average price of C$6.95 per share, for a total transaction of C$250,102.80. 0.10% of the stock is currently owned by company insiders.

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.