Scotiabank Issues Pessimistic Forecast for IAMGOLD Earnings

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) – Scotiabank dropped their FY2027 earnings estimates for IAMGOLD in a report released on Wednesday, July 15th. Scotiabank analyst T. Jakusconek now anticipates that the mining company will post earnings per share of $2.60 for the year, down from their prior estimate of $2.67. The consensus estimate for IAMGOLD’s current full-year earnings is $1.11 per share.

IAMGOLD (TSE:IMG) (NYSE:IAG) last released its earnings results on Tuesday, May 5th. The mining company reported C$0.93 earnings per share (EPS) for the quarter. The firm had revenue of C$1.43 billion for the quarter. IAMGOLD had a return on equity of 26.05% and a net margin of 29.53%.

A number of other brokerages have also commented on IMG. BMO Capital Markets upped their target price on IAMGOLD from C$27.00 to C$32.00 in a research report on Wednesday, April 22nd. National Bank Financial lifted their price objective on shares of IAMGOLD from C$36.00 to C$39.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$32.07.

IAMGOLD Stock Up 7.4%

IAMGOLD stock opened at C$21.08 on Monday. The business’s 50-day simple moving average is C$22.83 and its two-hundred day simple moving average is C$25.27. The company has a debt-to-equity ratio of 15.02, a quick ratio of 1.19 and a current ratio of 1.89. The company has a market cap of C$12.18 billion, a PE ratio of 12.33, a PEG ratio of -0.28 and a beta of 2.16. IAMGOLD has a fifty-two week low of C$9.26 and a fifty-two week high of C$34.09.

Insider Buying and Selling

In related news, Director Daniel Racine acquired 5,000 shares of the stock in a transaction on Monday, May 11th. The shares were acquired at an average price of C$26.28 per share, for a total transaction of C$131,400.00. Following the transaction, the director owned 5,000 shares in the company, valued at approximately C$131,400. This trade represents a ∞ increase in their position. Also, Director Renaud Adams bought 13,700 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were purchased at an average cost of C$21.89 per share, with a total value of C$299,893.00. Following the completion of the acquisition, the director owned 646,867 shares in the company, valued at approximately C$14,159,918.63. This represents a 2.16% increase in their ownership of the stock. Insiders have purchased a total of 33,023 shares of company stock valued at $782,657 over the last ninety days. Company insiders own 0.10% of the company’s stock.

IAMGOLD Company Profile

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.