What is Scotiabank’s Forecast for Iamgold FY2027 Earnings?

Iamgold Corporation (NYSE:IAG) (TSE:IMG) – Stock analysts at Scotiabank dropped their FY2027 earnings estimates for shares of Iamgold in a research note issued on Wednesday, July 15th. Scotiabank analyst T. Jakusconek now anticipates that the mining company will earn $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) (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 during the quarter, compared to analyst estimates of $955.17 million. Iamgold had a return on equity of 26.65% and a net margin of 29.49%.

A number of other equities analysts have also recently issued reports on the company. Bank of America dropped their price objective on Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Royal Bank Of Canada decreased their target price on Iamgold from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Zacks Research lowered shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Weiss Ratings lowered shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Iamgold Trading Down 1.2%

Shares of NYSE IAG opened at $13.97 on Monday. Iamgold has a fifty-two week low of $6.69 and a fifty-two week high of $24.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.89. The company has a market cap of $8.02 billion, a price-to-earnings ratio of 8.12, a PEG ratio of 0.61 and a beta of 1.30. The business’s 50 day moving average price is $16.36 and its 200-day moving average price is $18.29.

Institutional Trading of Iamgold

Large investors have recently modified their holdings of the company. Banque Transatlantique SA bought a new position in Iamgold in the second quarter worth approximately $26,000. Pin Oak Investment Advisors Inc. bought a new stake in Iamgold during the 4th quarter valued at $30,000. Global Retirement Partners LLC purchased a new stake in shares of Iamgold in the 4th quarter worth $33,000. FNY Investment Advisers LLC purchased a new stake in shares of Iamgold in the 4th quarter worth $38,000. Finally, Western Wealth Management LLC purchased a new stake in shares of Iamgold in the 1st quarter worth $43,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

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.