What is Scotiabank's Forecast for Iamgold FY2027 Earnings?

Key Points

• Scotiabank lowered its FY2027 EPS estimate for Iamgold to $1.85 from $1.95, while keeping a Sector Perform rating and a $22 price target on the stock.
• Iamgold’s latest quarterly results beat expectations, with EPS of $0.66 versus the $0.52 estimate and revenue of $1.01 billion, above the $955.17 million forecast.
• Analyst sentiment remains mixed but generally positive: the stock has a Moderate Buy consensus and a consensus target price of $19.00, though several firms recently trimmed their price targets or ratings.

Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG - Stock analysts at Scotiabank decreased their FY2027 EPS estimates for Iamgold in a research report issued to clients and investors on Wednesday, July 15th. Scotiabank analyst T. Jakusconek now expects that the mining company will post earnings of $1.85 per share for the year, down from their prior forecast of $1.95. Scotiabank has a "Sector Perform" rating and a $22.00 price target on the stock. The consensus estimate for Iamgold's current full-year earnings is $2.05 per share.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last announced its earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.14. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $955.17 million. Iamgold had a return on equity of 26.65% and a net margin of 29.49%.

Several other analysts have also commented on the stock. Weiss Ratings lowered shares of Iamgold from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 9th. Bank of America cut their price objective on shares of Iamgold from $22.50 to $21.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Zacks Research downgraded shares of Iamgold from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Finally, Royal Bank Of Canada reduced 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. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.00.

Iamgold Price Performance

Shares of IAG stock opened at $14.12 on Monday. The stock's 50-day moving average is $16.46 and its 200 day moving average is $18.31. Iamgold has a 1-year low of $6.69 and a 1-year high of $24.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.89 and a quick ratio of 1.21. The company has a market cap of $8.11 billion, a P/E ratio of 8.21, a PEG ratio of 0.61 and a beta of 1.30.

Institutional Trading of Iamgold

A number of institutional investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC purchased a new stake in Iamgold in the second quarter valued at approximately $95,000. Empowered Funds LLC acquired a new position in Iamgold in the 1st quarter worth approximately $531,000. Western Wealth Management LLC purchased a new position in Iamgold during the 1st quarter worth approximately $43,000. Bank of America Corp DE raised its position in Iamgold by 4.7% during the 1st quarter. Bank of America Corp DE now owns 9,589,342 shares of the mining company's stock worth $180,471,000 after buying an additional 434,188 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new position in Iamgold during the 1st quarter worth approximately $13,056,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Iamgold Company Profile

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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