Scotiabank Issues Pessimistic Forecast for IAMGOLD Earnings

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) – Analysts at Scotiabank dropped their FY2026 earnings per share estimates for IAMGOLD in a research note issued to investors on Wednesday, March 19th. Scotiabank analyst T. Jakusconek now anticipates that the mining company will post earnings of $0.43 per share for the year, down from their previous estimate of $0.54. The consensus estimate for IAMGOLD’s current full-year earnings is $0.67 per share.

IAG has been the topic of a number of other research reports. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. StockNews.com downgraded IAMGOLD from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. National Bank Financial upgraded shares of IAMGOLD to a “strong-buy” rating in a research note on Friday, March 21st. Raymond James upgraded shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. Finally, CIBC lifted their target price on IAMGOLD from $7.60 to $8.40 and gave the company an “outperformer” rating in a research report on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, IAMGOLD has a consensus rating of “Moderate Buy” and an average target price of $6.90.

IAMGOLD Trading Up 1.7 %

Shares of IAG opened at $6.04 on Monday. The firm’s 50-day moving average price is $5.94 and its 200-day moving average price is $5.56. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 4.17 and a beta of 1.63. IAMGOLD has a 1-year low of $3.06 and a 1-year high of $6.69.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Thursday, February 20th. The mining company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.05). The business had revenue of $469.90 million during the quarter, compared to analysts’ expectations of $498.68 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%.

Hedge Funds Weigh In On IAMGOLD

Hedge funds and other institutional investors have recently modified their holdings of the stock. PKO Investment Management Joint Stock Co purchased a new position in shares of IAMGOLD in the fourth quarter valued at $1,241,000. Polar Asset Management Partners Inc. purchased a new position in shares of IAMGOLD during the fourth quarter worth approximately $5,832,000. Mackenzie Financial Corp raised its position in IAMGOLD by 7.1% during the 4th quarter. Mackenzie Financial Corp now owns 5,123,756 shares of the mining company’s stock valued at $26,456,000 after purchasing an additional 338,297 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in IAMGOLD by 0.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 600,647 shares of the mining company’s stock worth $3,099,000 after acquiring an additional 5,053 shares during the period. Finally, Voloridge Investment Management LLC lifted its position in shares of IAMGOLD by 5.3% in the 4th quarter. Voloridge Investment Management LLC now owns 1,520,218 shares of the mining company’s stock worth $7,844,000 after purchasing an additional 76,856 shares during the period. Institutional investors own 47.08% of the company’s stock.

About IAMGOLD

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.