Cormark Analysts Increase Earnings Estimates for IAMGOLD Co. (TSE:IMG)

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Investment analysts at Cormark upped their Q2 2024 earnings estimates for IAMGOLD in a research note issued to investors on Wednesday, July 24th. Cormark analyst R. Gray now forecasts that the mining company will earn $0.11 per share for the quarter, up from their previous forecast of $0.07. The consensus estimate for IAMGOLD’s current full-year earnings is $0.37 per share.

A number of other brokerages have also recently commented on IMG. Bank of America lifted their target price on shares of IAMGOLD from C$4.40 to C$6.20 in a report on Tuesday, April 9th. National Bankshares lifted their price objective on shares of IAMGOLD from C$6.50 to C$6.75 and gave the company a “sector perform” rating in a research note on Monday, May 13th. Stifel Nicolaus upped their target price on shares of IAMGOLD from C$3.00 to C$5.25 in a report on Friday, April 19th. National Bank Financial reissued a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. Finally, Canaccord Genuity Group upped their price objective on IAMGOLD from C$5.50 to C$6.00 in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, IAMGOLD has a consensus rating of “Hold” and an average price target of C$5.09.

IAMGOLD Price Performance

Shares of TSE IMG opened at C$5.44 on Friday. The stock has a market cap of C$2.70 billion, a P/E ratio of 14.32, a P/E/G ratio of -0.28 and a beta of 1.51. IAMGOLD has a twelve month low of C$2.71 and a twelve month high of C$6.24. The stock has a 50 day moving average of C$5.37 and a two-hundred day moving average of C$4.62. The company has a current ratio of 0.91, a quick ratio of 1.19 and a debt-to-equity ratio of 40.77.

IAMGOLD (TSE:IMG) (NYSE:IAG) last posted its earnings results on Thursday, May 9th. The mining company reported C$0.15 earnings per share for the quarter, beating the consensus estimate of C$0.03 by C$0.12. The business had revenue of C$456.89 million during the quarter. IAMGOLD had a return on equity of 6.57% and a net margin of 12.48%.

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.