Raymond James Weighs in on IAMGOLD Co.’s Q3 2024 Earnings (TSE:IMG)

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Analysts at Raymond James boosted their Q3 2024 earnings per share (EPS) estimates for shares of IAMGOLD in a research report issued to clients and investors on Monday, September 23rd. Raymond James analyst F. Hamed now anticipates that the mining company will earn $0.24 per share for the quarter, up from their prior forecast of $0.14. The consensus estimate for IAMGOLD’s current full-year earnings is $1.11 per share. Raymond James also issued estimates for IAMGOLD’s Q4 2024 earnings at $0.24 EPS, FY2024 earnings at $0.86 EPS, Q1 2025 earnings at $0.33 EPS, Q2 2025 earnings at $0.33 EPS, Q3 2025 earnings at $0.33 EPS, Q4 2025 earnings at $0.33 EPS and FY2025 earnings at $1.32 EPS.

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

Several other brokerages also recently issued reports on IMG. Royal Bank of Canada downgraded IAMGOLD from a “moderate buy” rating to a “hold” rating in a report on Tuesday, September 10th. Canaccord Genuity Group lifted their target price on shares of IAMGOLD from C$5.50 to C$6.00 in a report on Tuesday, July 23rd. Finally, National Bankshares increased their price target on shares of IAMGOLD from C$7.00 to C$8.50 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, IAMGOLD presently has a consensus rating of “Hold” and an average price target of C$5.70.

IAMGOLD Price Performance

TSE:IMG opened at C$7.13 on Thursday. IAMGOLD has a 12-month low of C$2.71 and a 12-month high of C$7.55. The firm has a market capitalization of C$4.07 billion, a price-to-earnings ratio of 22.94, a P/E/G ratio of -0.28 and a beta of 1.47. The stock’s 50 day moving average price is C$6.42 and its two-hundred day moving average price is C$5.56. The company has a quick ratio of 1.19, a current ratio of 1.34 and a debt-to-equity ratio of 35.17.

Insider Activity

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