IAMGOLD Co. Expected to Post Q3 2024 Earnings of $0.18 Per Share (NYSE:IAG)

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Investment analysts at Raymond James increased their Q3 2024 earnings estimates for shares of IAMGOLD in a note issued to investors on Monday, September 23rd. Raymond James analyst F. Hamed now expects that the mining company will post earnings per share of $0.18 for the quarter, up from their previous forecast of $0.10. The consensus estimate for IAMGOLD’s current full-year earnings is $0.45 per share. Raymond James also issued estimates for IAMGOLD’s Q4 2024 earnings at $0.18 EPS, FY2024 earnings at $0.63 EPS, Q1 2025 earnings at $0.24 EPS, Q2 2025 earnings at $0.24 EPS, Q3 2025 earnings at $0.24 EPS, Q4 2025 earnings at $0.24 EPS and FY2025 earnings at $0.97 EPS.

IAG has been the topic of a number of other reports. Scotiabank boosted their target price on IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. BMO Capital Markets reiterated an “outperform” rating and set a $5.00 target price on shares of IAMGOLD in a research report on Thursday, June 6th. StockNews.com upgraded shares of IAMGOLD from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. Finally, CIBC increased their price objective on shares of IAMGOLD from $4.90 to $5.40 and gave the company a “neutral” rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $4.73.

IAMGOLD Stock Down 4.4 %

Shares of IAG stock opened at $5.28 on Thursday. The stock has a market cap of $3.00 billion, a P/E ratio of 18.84 and a beta of 1.58. The company’s fifty day simple moving average is $4.75 and its two-hundred day simple moving average is $4.08. The company has a quick ratio of 0.90, a current ratio of 1.34 and a debt-to-equity ratio of 0.30. IAMGOLD has a 52 week low of $1.99 and a 52 week high of $5.60.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.08. The business had revenue of $385.30 million during the quarter. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. During the same quarter in the previous year, the company earned ($0.01) earnings per share.

Institutional Trading of IAMGOLD

Hedge funds and other institutional investors have recently bought and sold shares of the stock. TIAA Trust National Association bought a new position in IAMGOLD during the second quarter valued at $38,000. Dynamic Technology Lab Private Ltd purchased a new stake in IAMGOLD in the 4th quarter worth about $29,000. Vanguard Personalized Indexing Management LLC bought a new stake in IAMGOLD in the fourth quarter worth about $33,000. WINTON GROUP Ltd purchased a new position in shares of IAMGOLD during the second quarter valued at approximately $52,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of IAMGOLD during the second quarter valued at approximately $56,000. Hedge funds and other institutional investors own 47.08% 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.