Scotiabank Has Optimistic Outlook of IAMGOLD FY2024 Earnings

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Investment analysts at Scotiabank boosted their FY2024 EPS estimates for shares of IAMGOLD in a research note issued on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the mining company will earn $0.78 per share for the year, up from their previous forecast of $0.61. The consensus estimate for IAMGOLD’s current full-year earnings is $1.11 per share. Scotiabank also issued estimates for IAMGOLD’s FY2025 earnings at $0.92 EPS and FY2026 earnings at $0.78 EPS.

Several other brokerages have also commented on IMG. National Bank Financial raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. National Bankshares lowered their target price on shares of IAMGOLD from C$12.50 to C$12.00 and set an “outperform” rating for the company in a research note on Thursday, January 9th. Stifel Nicolaus boosted their price target on shares of IAMGOLD from C$6.00 to C$9.00 in a research note on Monday, October 21st. Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, IAMGOLD currently has a consensus rating of “Buy” and an average price target of C$8.30.

IAMGOLD Trading Up 1.3 %

IMG opened at C$7.99 on Monday. The business’s 50 day moving average price is C$7.62 and its 200 day moving average price is C$6.89. The company has a debt-to-equity ratio of 35.17, a quick ratio of 1.19 and a current ratio of 1.34. The stock has a market capitalization of C$4.56 billion, a PE ratio of 24.97, a P/E/G ratio of -0.28 and a beta of 1.47. IAMGOLD has a one year low of C$3.00 and a one year high of C$8.80.

Insider Activity at IAMGOLD

In other news, Senior Officer Timothy Bradburn sold 16,800 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of C$8.10, for a total transaction of C$136,080.00. Also, Director Renaud Adams bought 36,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were purchased at an average price of C$6.95 per share, for a total transaction of C$250,102.80. Company insiders own 0.10% 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.