Cormark Brokers Increase Earnings Estimates for IAMGOLD

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Investment analysts at Cormark lifted their FY2024 earnings per share (EPS) estimates for shares of IAMGOLD in a report released on Monday, November 11th. Cormark analyst R. Gray now forecasts that the mining company will earn $0.86 per share for the year, up from their previous forecast of $0.68. The consensus estimate for IAMGOLD’s current full-year earnings is $1.11 per share. Cormark also issued estimates for IAMGOLD’s FY2026 earnings at $1.90 EPS.

Other analysts have also recently issued research reports about the stock. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus lifted their price objective on IAMGOLD from C$6.00 to C$9.00 in a report on Monday, October 21st. National Bank Financial raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 9th. National Bankshares upped their target price on IAMGOLD from C$11.00 to C$12.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada cut shares of IAMGOLD from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, IAMGOLD presently has a consensus rating of “Buy” and an average price target of C$7.29.

IAMGOLD Price Performance

IAMGOLD stock opened at C$6.99 on Thursday. The company has a debt-to-equity ratio of 35.17, a current ratio of 1.34 and a quick ratio of 1.19. The business has a 50 day simple moving average of C$7.23 and a 200-day simple moving average of C$6.18. IAMGOLD has a 12 month low of C$2.87 and a 12 month high of C$8.80. The stock has a market capitalization of C$3.99 billion, a PE ratio of 22.25, a price-to-earnings-growth ratio of -0.28 and a beta of 1.47.

Insider Buying and Selling at IAMGOLD

In other news, Senior Officer Bruno Lemelin sold 14,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of C$7.09, for a total value of C$99,206.80. In other IAMGOLD news, Director Renaud Adams bought 36,000 shares of IAMGOLD stock in a transaction dated Tuesday, November 12th. The stock was bought at an average cost of C$6.95 per share, for a total transaction of C$250,102.80. Also, Senior Officer Bruno Lemelin sold 14,000 shares of IAMGOLD stock in a transaction on Friday, August 23rd. The stock was sold at an average price of C$7.09, for a total transaction of C$99,206.80. 0.10% of the stock is owned by corporate insiders.

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.