Scotiabank Has Strong Forecast for IAMGOLD FY2027 Earnings

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Equities researchers at Scotiabank lifted their FY2027 earnings per share estimates for shares of IAMGOLD in a research report issued on Wednesday, August 19th. Scotiabank analyst T. Jakusconek now expects that the mining company will post earnings per share of $2.65 for the year, up from their previous estimate of $2.60. The consensus estimate for IAMGOLD’s current full-year earnings is $1.11 per share.

IAMGOLD (TSE:IMG) (NYSE:IAG) last posted its quarterly earnings results on Thursday, August 6th. The mining company reported C$0.60 earnings per share (EPS) for the quarter. IAMGOLD had a return on equity of 28.08% and a net margin of 31.46%.The business had revenue of C$1.22 billion for the quarter.

A number of other analysts have also recently weighed in on the stock. National Bank Financial increased their target price on shares of IAMGOLD from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Jefferies Financial Group raised shares of IAMGOLD to a “strong-buy” rating in a report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$31.07.

IAMGOLD Stock Performance

IAMGOLD stock opened at C$30.61 on Monday. The company has a market cap of C$17.48 billion, a PE ratio of 15.46, a P/E/G ratio of -0.28 and a beta of 2.15. The company has a fifty day moving average price of C$23.07 and a two-hundred day moving average price of C$24.99. The company has a debt-to-equity ratio of 12.27, a current ratio of 1.71 and a quick ratio of 1.19. IAMGOLD has a 12 month low of C$12.19 and a 12 month high of C$34.09.

Insider Buying and Selling

In related news, insider Ankit Shah purchased 4,666 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were acquired at an average cost of C$21.43 per share, for a total transaction of C$99,992.38. Following the transaction, the insider owned 14,323 shares of the company’s stock, valued at C$306,941.89. This trade represents a 48.32% increase in their ownership of the stock. Also, Director Renaud Adams purchased 13,700 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was bought at an average cost of C$21.89 per share, for a total transaction of C$299,893.00. Following the acquisition, the director owned 646,867 shares in the company, valued at approximately C$14,159,918.63. The trade was a 2.16% increase in their position. 0.10% of the stock is currently owned by corporate insiders.

About IAMGOLD

IAMGOLD is an intermediate gold producer and developer based in Canada with operating mines in North America and West Africa, including Côté Gold (Canada), Westwood (Canada) and Essakane (Burkina Faso). The Côté Gold Mine is among the largest gold mines in production in Canada, which IAMGOLD operates in a 70|30 partnership with Sumitomo Metal Mining Co Ltd. (‘SMM’). In addition, the Company has an established portfolio of early stage and advanced exploration projects within high potential mining districts, including the large-scale Nelligan Mining Complex located in Quebec, Canada.