Analysts Set Expectations for IAMGOLD FY2024 Earnings

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – National Bank Financial cut their FY2024 earnings estimates for shares of IAMGOLD in a research report issued on Monday, February 10th. National Bank Financial analyst M. Parkin now expects that the mining company will post earnings per share of $0.80 for the year, down from their previous forecast of $0.82. The consensus estimate for IAMGOLD’s current full-year earnings is $1.11 per share. National Bank Financial also issued estimates for IAMGOLD’s Q4 2024 earnings at $0.17 EPS.

Several other analysts also recently weighed in on the company. National Bankshares upped their price target on IAMGOLD from C$12.00 to C$13.50 and gave the stock an “outperform” rating in a research note on Tuesday. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Stifel Nicolaus raised their price target on IAMGOLD from C$6.00 to C$9.00 in a report on Monday, October 21st. Raymond James upgraded shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. Finally, Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating, one has given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$8.68.

IAMGOLD Price Performance

Shares of IMG opened at C$9.12 on Wednesday. The firm’s 50-day simple moving average is C$8.07 and its two-hundred day simple moving average is C$7.33. IAMGOLD has a fifty-two week low of C$3.15 and a fifty-two week high of C$9.68. The stock has a market cap of C$5.20 billion, a PE ratio of 28.50, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47. The company has a debt-to-equity ratio of 35.17, a quick ratio of 1.19 and a current ratio of 1.34.

Insider Activity at IAMGOLD

In related news, Senior Officer Timothy Bradburn sold 16,800 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of C$8.10, for a total transaction of C$136,080.00. Also, Senior Officer Stephen Eddy sold 16,100 shares of IAMGOLD stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of C$7.80, for a total transaction of C$125,580.00. 0.10% of the stock is currently owned by 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.