Brokers Issue Forecasts for IAMGOLD Co.’s Q2 2024 Earnings (TSE:IMG)

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Stock analysts at Cormark boosted their Q2 2024 EPS estimates for shares of IAMGOLD in a note issued to investors on Wednesday, July 24th. Cormark analyst R. Gray now anticipates that the mining company will post earnings per share of $0.11 for the quarter, up from their prior estimate of $0.07. The consensus estimate for IAMGOLD’s current full-year earnings is $0.37 per share.

IAMGOLD (TSE:IMG) (NYSE:IAG) last posted its earnings results on Thursday, May 9th. The mining company reported C$0.15 earnings per share for the quarter, beating the consensus estimate of C$0.03 by C$0.12. IAMGOLD had a return on equity of 6.57% and a net margin of 12.48%. The company had revenue of C$456.89 million for the quarter.

Other equities analysts also recently issued research reports about the company. National Bankshares increased their price target on IAMGOLD from C$6.50 to C$6.75 and gave the company a “sector perform” rating in a report on Monday, May 13th. Bank of America raised their target price on shares of IAMGOLD from C$4.40 to C$6.20 in a research note on Tuesday, April 9th. Stifel Nicolaus lifted their target price on shares of IAMGOLD from C$3.00 to C$5.25 in a report on Friday, April 19th. National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. Finally, Canaccord Genuity Group lifted their price objective on IAMGOLD from C$5.50 to C$6.00 in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$5.09.

IAMGOLD Stock Up 0.4 %

Shares of IMG stock opened at C$5.44 on Friday. The stock’s 50 day simple moving average is C$5.37 and its 200 day simple moving average is C$4.62. IAMGOLD has a twelve month low of C$2.71 and a twelve month high of C$6.24. The company has a debt-to-equity ratio of 40.77, a quick ratio of 1.19 and a current ratio of 0.91. The company has a market capitalization of C$2.70 billion, a price-to-earnings ratio of 14.32, a PEG ratio of -0.28 and a beta of 1.51.

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.