Q2 2023 Earnings Forecast for IAMGOLD Co. Issued By Cormark (NYSE:IAG)

Posted by on May 20th, 2023

IAMGOLD Co. (NYSE:IAG – Get Rating) (TSE:IMG) – Stock analysts at Cormark cut their Q2 2023 earnings per share (EPS) estimates for shares of IAMGOLD in a research report issued to clients and investors on Wednesday, May 17th. Cormark analyst R. Gray now forecasts that the mining company will post earnings per share of ($0.04) for the quarter, down from their prior estimate of ($0.02). The consensus estimate for IAMGOLD’s current full-year earnings is $0.03 per share. Cormark also issued estimates for IAMGOLD’s Q3 2023 earnings at $0.01 EPS, Q4 2023 earnings at $0.01 EPS and FY2023 earnings at $0.04 EPS.

IAMGOLD (NYSE:IAG – Get Rating) (TSE:IMG) last released its earnings results on Thursday, February 16th. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). IAMGOLD had a negative net margin of 7.38% and a negative return on equity of 0.18%. The business had revenue of $207.20 million during the quarter.

Several other equities analysts also recently issued reports on the company. National Bank Financial cut their price objective on IAMGOLD from C$4.10 to C$4.00 in a research report on Tuesday, February 14th. StockNews.com assumed coverage on IAMGOLD in a report on Thursday. They issued a “hold” rating for the company. BMO Capital Markets assumed coverage on IAMGOLD in a report on Monday, May 1st. They set an “outperform” rating and a $3.25 price objective for the company. Finally, Raymond James increased their price objective on IAMGOLD from $2.00 to $2.25 and gave the stock an “underperform” rating in a report on Tuesday, January 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, IAMGOLD has a consensus rating of “Hold” and an average target price of $2.89.

IAMGOLD Price Performance

Shares of NYSE:IAG opened at $2.77 on Friday. The business’s 50 day moving average is $2.86 and its 200-day moving average is $2.49. The company has a current ratio of 2.44, a quick ratio of 1.88 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $1.33 billion, a PE ratio of -15.39, a PEG ratio of 16.65 and a beta of 1.46. IAMGOLD has a 1-year low of $0.92 and a 1-year high of $3.34.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. HBK Sorce Advisory LLC bought a new stake in IAMGOLD during the 4th quarter worth approximately $28,000. Citigroup Inc. purchased a new stake in shares of IAMGOLD during the first quarter worth $31,000. Jupiter Asset Management Ltd. purchased a new stake in shares of IAMGOLD during the fourth quarter worth $37,000. First Trust Advisors LP purchased a new stake in shares of IAMGOLD during the first quarter worth $40,000. Finally, Private Advisor Group LLC purchased a new stake in shares of IAMGOLD during the first quarter worth $41,000. 48.57% of the stock is owned by institutional investors and hedge funds.

IAMGOLD Company Profile

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IAMGOLD Corp. engages in the exploration, development and production of gold and mineral resource properties. It owns and operates the Westwood mine in Quebec and the Cote Gold project, a development project located in Ontario. The firm also operates the Rosebel mine in Suriname, the Essakane mine in Burkina Faso, the Saramacca project, an exploration project located in Suriname, the Boto project, an exploration project located in Senegal.

See Also

Earnings History and Estimates for IAMGOLD (NYSE:IAG)

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