National Bank Financial Comments on IAMGOLD FY2024 Earnings

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – National Bank Financial reduced their FY2024 earnings estimates for IAMGOLD in a note issued to investors on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now anticipates that the mining company will post earnings of $0.87 per share for the year, down from their prior forecast of $0.90. National Bank Financial has a “Strong-Buy” rating on the stock. The consensus estimate for IAMGOLD’s current full-year earnings is $1.11 per share. National Bank Financial also issued estimates for IAMGOLD’s FY2025 earnings at $1.23 EPS.

IAMGOLD (TSE:IMG) (NYSE:IAG) last released its quarterly earnings data on Thursday, August 8th. The mining company reported C$0.22 earnings per share for the quarter, beating the consensus estimate of C$0.12 by C$0.10. The company had revenue of C$527.18 million for the quarter. IAMGOLD had a return on equity of 5.86% and a net margin of 10.36%.

Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada lowered shares of IAMGOLD from a “moderate buy” rating to a “hold” rating in a report on Tuesday, September 10th. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Tuesday. National Bankshares lifted their target price on shares of IAMGOLD from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Stifel Nicolaus raised their price target on IAMGOLD from C$6.00 to C$9.00 in a report on Monday. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$6.91.

IAMGOLD Stock Performance

Shares of TSE:IMG opened at C$8.31 on Friday. The stock has a market capitalization of C$4.74 billion, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47. The business’s fifty day moving average price is C$7.02 and its two-hundred day moving average price is C$5.92. IAMGOLD has a fifty-two week low of C$2.87 and a fifty-two week high of C$8.80. The company has a debt-to-equity ratio of 35.17, a current ratio of 1.34 and a quick ratio of 1.19.

Insiders Place Their Bets

In other news, Senior Officer Bruno Lemelin sold 14,000 shares of IAMGOLD stock in a transaction on Friday, August 23rd. The stock was sold at an average price of C$7.09, for a total value of C$99,206.80. Company insiders own 0.10% of the company’s stock.

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.