FY2024 Earnings Forecast for IAMGOLD Issued By Raymond James

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Equities researchers at Raymond James boosted their FY2024 earnings estimates for shares of IAMGOLD in a research report issued on Tuesday, January 14th. Raymond James analyst F. Hamed now forecasts that the mining company will earn $0.63 per share for the year, up from their prior estimate of $0.61. Raymond James currently has a “Underperform” rating and a $6.00 target price on the stock. The consensus estimate for IAMGOLD’s current full-year earnings is $0.58 per share.

Several other equities analysts have also issued reports on IAG. CIBC upgraded IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. StockNews.com cut IAMGOLD from a “buy” rating to a “hold” rating in a research report on Wednesday. National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and raised their price target for the company from $7.75 to $10.50 in a research note on Tuesday, October 22nd. Finally, Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, IAMGOLD currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.57.

IAMGOLD Stock Down 4.0 %

Shares of IAG opened at $5.34 on Thursday. The firm has a 50 day simple moving average of $5.39 and a two-hundred day simple moving average of $5.02. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. IAMGOLD has a one year low of $2.23 and a one year high of $6.37. The company has a market cap of $3.05 billion, a P/E ratio of 4.17 and a beta of 1.56.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. ORG Partners LLC bought a new stake in IAMGOLD during the 3rd quarter worth approximately $29,000. Eastern Bank acquired a new position in shares of IAMGOLD during the third quarter worth $30,000. Aigen Investment Management LP grew its stake in shares of IAMGOLD by 10.6% in the third quarter. Aigen Investment Management LP now owns 70,244 shares of the mining company’s stock worth $368,000 after purchasing an additional 6,704 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of IAMGOLD by 2.7% in the third quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company’s stock worth $1,392,000 after purchasing an additional 6,874 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in IAMGOLD by 3.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company’s stock valued at $1,154,000 after purchasing an additional 8,972 shares during the period. Institutional investors and hedge funds 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.