What is Scotiabank’s Forecast for Iamgold FY2027 Earnings?

Iamgold Corporation (NYSE:IAG) (TSE:IMG) – Research analysts at Scotiabank upped their FY2027 EPS estimates for shares of Iamgold in a research note issued to investors on Thursday, May 14th. Scotiabank analyst T. Jakusconek now anticipates that the mining company will earn $1.95 per share for the year, up from their previous estimate of $1.92. Scotiabank has a “Sector Perform” rating and a $25.00 price objective on the stock. The consensus estimate for Iamgold’s current full-year earnings is $2.24 per share.

Several other brokerages have also recently weighed in on IAG. Wall Street Zen raised Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. TD Securities reissued a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a report on Tuesday, April 21st. Zacks Research downgraded shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Iamgold in a research note on Wednesday, February 4th. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.75.

Iamgold Stock Down 1.6%

Shares of NYSE:IAG opened at $18.48 on Friday. The firm has a market cap of $10.68 billion, a P/E ratio of 10.74, a P/E/G ratio of 0.91 and a beta of 1.26. Iamgold has a 12-month low of $6.06 and a 12-month high of $24.87. The business has a fifty day simple moving average of $18.81 and a 200 day simple moving average of $17.73. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.12.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $955.17 million.

Hedge Funds Weigh In On Iamgold

A number of institutional investors and hedge funds have recently modified their holdings of the business. Rathbones Group PLC increased its stake in shares of Iamgold by 1,037,042.8% in the 4th quarter. Rathbones Group PLC now owns 418,901,982 shares of the mining company’s stock valued at $6,907,694,000 after acquiring an additional 418,861,592 shares in the last quarter. Van ECK Associates Corp increased its stake in Iamgold by 35.7% in the third quarter. Van ECK Associates Corp now owns 51,992,067 shares of the mining company’s stock valued at $672,253,000 after purchasing an additional 13,691,148 shares in the last quarter. FIL Ltd raised its holdings in shares of Iamgold by 124.0% during the fourth quarter. FIL Ltd now owns 36,367,149 shares of the mining company’s stock valued at $600,135,000 after purchasing an additional 20,134,496 shares during the period. Vanguard Group Inc. boosted its position in shares of Iamgold by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 23,836,156 shares of the mining company’s stock worth $393,328,000 after purchasing an additional 1,068,465 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Iamgold by 16.4% in the 3rd quarter. Bank of America Corp DE now owns 11,194,505 shares of the mining company’s stock valued at $144,745,000 after buying an additional 1,581,064 shares during the period. 47.08% of the stock is currently owned by institutional investors.

Insider Activity at Iamgold

In related news, Director David Stewart Smith sold 31,000 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $32.87, for a total transaction of $1,018,970.00. Following the completion of the sale, the director owned 20,000 shares of the company’s stock, valued at $657,400. This trade represents a 60.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by insiders.

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.