Scotiabank Issues Optimistic Estimate for Iamgold Earnings

Key Points

• Scotiabank raised its FY2026 EPS estimate for Iamgold to $1.81 from $1.78 and forecasts FY2027 EPS of $1.92. It maintained a “Sector Perform” rating and a $23 price target, below the $1.92 current-year consensus EPS estimate.
• Analyst sentiment is broadly positive, with Iamgold holding a consensus “Moderate Buy” rating and an average price target of $20.00, supported by one Strong Buy, six Buy, and three Hold ratings.
• Iamgold reported quarterly EPS of $0.42, in line with consensus, while revenue of $845.97 million fell short of the $882.92 million estimate. Institutional investors own 47.08% of the stock, and shares recently traded at $21.11.

Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG - Equities research analysts at Scotiabank raised their FY2026 earnings per share (EPS) estimates for Iamgold in a research report issued to clients and investors on Wednesday, August 19th. Scotiabank analyst T. Jakusconek now forecasts that the mining company will earn $1.81 per share for the year, up from their prior estimate of $1.78. Scotiabank currently has a "Sector Perform" rating and a $23.00 target price on the stock. The consensus estimate for Iamgold's current full-year earnings is $1.92 per share. Scotiabank also issued estimates for Iamgold's FY2027 earnings at $1.92 EPS.

IAG has been the subject of several other reports. Royal Bank Of Canada lowered their price objective on shares of Iamgold from $22.00 to $20.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Weiss Ratings cut Iamgold from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 9th. Jefferies Financial Group assumed coverage on Iamgold in a report on Thursday. They set a "buy" rating and a $24.00 price target on the stock. Wall Street Zen raised Iamgold from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Bank of America lowered their price target on Iamgold from $22.50 to $21.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Iamgold has a consensus rating of "Moderate Buy" and a consensus target price of $20.00.

Iamgold Price Performance

Shares of Iamgold stock opened at $21.11 on Monday. The firm has a market cap of $12.12 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 1.12 and a beta of 1.32. Iamgold has a 12-month low of $8.29 and a 12-month high of $24.87. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 0.10. The company's fifty day simple moving average is $16.27 and its two-hundred day simple moving average is $18.01.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last issued its earnings results on Thursday, August 6th. The mining company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $845.97 million for the quarter, compared to the consensus estimate of $882.92 million. Iamgold had a net margin of 31.40% and a return on equity of 28.97%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its position in shares of Iamgold by 2.7% in the 2nd quarter. Van ECK Associates Corp now owns 38,110,975 shares of the mining company's stock worth $603,742,000 after purchasing an additional 985,939 shares during the period. FIL Ltd increased its position in shares of Iamgold by 124.0% during the fourth quarter. FIL Ltd now owns 36,367,149 shares of the mining company's stock valued at $600,135,000 after buying an additional 20,134,496 shares during the period. Vanguard Group Inc. increased its position in shares of Iamgold by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 23,836,156 shares of the mining company's stock valued at $393,328,000 after buying an additional 1,068,465 shares during the period. BlackRock Inc. bought a new position in Iamgold in the second quarter worth about $350,145,000. Finally, Donald Smith & CO. Inc. bought a new position in Iamgold in the second quarter worth about $206,146,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

About Iamgold

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.

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