IAMGOLD Co. (NYSE:IAG) Expected to Post Q1 2024 Earnings of $0.00 Per Share

IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG - Analysts at Raymond James increased their Q1 2024 earnings estimates for IAMGOLD in a report issued on Tuesday, April 23rd. Raymond James analyst F. Hamed now expects that the mining company will post earnings of $0.00 per share for the quarter, up from their previous forecast of ($0.04). The consensus estimate for IAMGOLD's current full-year earnings is $0.10 per share. Raymond James also issued estimates for IAMGOLD's Q2 2024 earnings at $0.04 EPS, Q3 2024 earnings at $0.08 EPS, Q4 2024 earnings at $0.10 EPS and FY2024 earnings at $0.23 EPS.

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

Several other equities analysts have also weighed in on IAG. BMO Capital Markets upped their price objective on shares of IAMGOLD from $4.00 to $4.25 and gave the company an "outperform" rating in a report on Friday, April 5th. Scotiabank upped their price objective on shares of IAMGOLD from $3.25 to $3.75 and gave the company a "sector perform" rating in a report on Thursday, April 18th. CIBC upped their price objective on shares of IAMGOLD from $3.00 to $3.10 and gave the company a "neutral" rating in a report on Wednesday, February 7th. National Bank Financial reiterated a "sector perform spec overwgt" rating on shares of IAMGOLD in a report on Monday, April 8th. Finally, StockNews.com upgraded shares of IAMGOLD from a "sell" rating to a "hold" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $3.55.

IAMGOLD Trading Up 2.0 %

IAG stock traded up $0.08 during midday trading on Friday, hitting $3.79. The stock had a trading volume of 4,563,930 shares, compared to its average volume of 9,018,738. The business has a fifty day moving average price of $3.21 and a two-hundred day moving average price of $2.71. IAMGOLD has a 1-year low of $1.99 and a 1-year high of $3.92. The firm has a market cap of $1.88 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 0.93 and a beta of 1.70. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.36.

Institutional Investors Weigh In On IAMGOLD

Several hedge funds and other institutional investors have recently made changes to their positions in IAG. Raymond James Financial Services Advisors Inc. bought a new stake in shares of IAMGOLD during the fourth quarter worth about $26,000. Dynamic Technology Lab Private Ltd bought a new stake in IAMGOLD in the 4th quarter worth about $29,000. Stratos Wealth Partners LTD. bought a new stake in IAMGOLD in the 3rd quarter worth about $32,000. Vanguard Personalized Indexing Management LLC bought a new stake in IAMGOLD in the 4th quarter worth about $33,000. Finally, Koshinski Asset Management Inc. bought a new stake in IAMGOLD in the 4th quarter worth about $34,000. 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.