Cormark Comments on IAMGOLD Co.'s Q1 2024 Earnings (NYSE:IAG)

IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG - Equities research analysts at Cormark increased their Q1 2024 earnings per share estimates for IAMGOLD in a research note issued to investors on Monday, April 22nd. Cormark analyst R. Gray now forecasts that the mining company will earn $0.00 per share for the quarter, up from their prior estimate of ($0.01). The consensus estimate for IAMGOLD's current full-year earnings is $0.06 per share.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last posted its earnings results on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm had revenue of $297.60 million for the quarter. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%.

Several other analysts have also commented on the company. StockNews.com lowered IAMGOLD from a "hold" rating to a "sell" rating in a report on Thursday, April 18th. CIBC raised their price objective on IAMGOLD from $3.00 to $3.10 and gave the company a "neutral" rating in a report on Wednesday, February 7th. BMO Capital Markets raised their price objective on IAMGOLD from $4.00 to $4.25 and gave the company an "outperform" rating in a report on Friday, April 5th. National Bank Financial restated a "sector perform spec overwgt" rating on shares of IAMGOLD in a research report on Monday, April 8th. Finally, Scotiabank raised their target price on IAMGOLD from $3.25 to $3.75 and gave the company a "sector perform" rating in a research report on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $3.55.

IAMGOLD Stock Performance

IAMGOLD stock traded up $0.21 during midday trading on Tuesday, hitting $3.70. 14,980,502 shares of the company were exchanged, compared to its average volume of 9,080,881. The firm has a market capitalization of $1.84 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 1.46 and a beta of 1.69. IAMGOLD has a fifty-two week low of $1.99 and a fifty-two week high of $3.92. The business has a fifty day simple moving average of $3.11 and a two-hundred day simple moving average of $2.67. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.77 and a current ratio of 1.19.

Institutional Investors Weigh In On IAMGOLD

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IAG. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of IAMGOLD in the fourth quarter valued at $26,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of IAMGOLD in the fourth quarter valued at $29,000. Stratos Wealth Partners LTD. acquired a new stake in shares of IAMGOLD in the third quarter valued at $32,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of IAMGOLD in the fourth quarter valued at $33,000. Finally, Koshinski Asset Management Inc. acquired a new position in IAMGOLD during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 47.08% of the company's stock.

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.