IAMGOLD Co. (NYSE:IAG) Expected to Earn Q3 2024 Earnings of $0.06 Per Share

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Equities research analysts at Cormark lifted their Q3 2024 earnings per share estimates for IAMGOLD in a research report issued on Tuesday, August 6th. Cormark analyst R. Gray now expects that the mining company will post earnings per share of $0.06 for the quarter, up from their prior estimate of $0.04. The consensus estimate for IAMGOLD’s current full-year earnings is $0.33 per share. Cormark also issued estimates for IAMGOLD’s Q4 2024 earnings at $0.09 EPS and FY2024 earnings at $0.33 EPS.

A number of other analysts also recently commented on IAG. Scotiabank increased their price target on IAMGOLD from $4.25 to $4.50 and gave the company a “sector perform” rating in a research report on Thursday, June 6th. BMO Capital Markets reissued an “outperform” rating and issued a $5.00 target price on shares of IAMGOLD in a research report on Thursday, June 6th. CIBC raised their target price on IAMGOLD from $4.80 to $4.90 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Finally, StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.02.

IAMGOLD Stock Performance

Shares of IAG opened at $3.68 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.55 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 13.14 and a beta of 1.56. The stock has a 50 day moving average of $3.87 and a 200 day moving average of $3.47. IAMGOLD has a 12 month low of $1.99 and a 12 month high of $4.59.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Thursday, May 9th. The mining company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. The company had revenue of $338.90 million during the quarter. IAMGOLD had a return on equity of 3.17% and a net margin of 12.48%. During the same period in the previous year, the business posted $0.05 earnings per share.

Hedge Funds Weigh In On IAMGOLD

Large investors have recently made changes to their positions in the stock. Euro Pacific Asset Management LLC boosted its holdings in shares of IAMGOLD by 48.1% in the fourth quarter. Euro Pacific Asset Management LLC now owns 2,727,065 shares of the mining company’s stock worth $6,898,000 after acquiring an additional 885,697 shares during the period. Virtu Financial LLC boosted its holdings in shares of IAMGOLD by 1,034.3% in the first quarter. Virtu Financial LLC now owns 339,792 shares of the mining company’s stock worth $1,132,000 after acquiring an additional 309,836 shares during the period. Norges Bank bought a new position in shares of IAMGOLD in the fourth quarter worth $8,642,000. P Schoenfeld Asset Management LP boosted its holdings in shares of IAMGOLD by 11.1% in the fourth quarter. P Schoenfeld Asset Management LP now owns 8,234,284 shares of the mining company’s stock worth $20,833,000 after acquiring an additional 822,149 shares during the period. Finally, Helikon Investments Ltd boosted its holdings in shares of IAMGOLD by 250.5% in the first quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock worth $109,429,000 after acquiring an additional 23,485,183 shares during the period. 47.08% of the stock is owned by institutional investors.

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.