Scotiabank Weighs in on Iamgold’s FY2027 Earnings (NYSE:IAG)

Iamgold Corporation (NYSE:IAG) (TSE:IMG) – Equities researchers at Scotiabank lowered their FY2027 EPS estimates for Iamgold in a research note issued to investors on Wednesday, July 15th. Scotiabank analyst T. Jakusconek now expects that the mining company will earn $1.85 per share for the year, down from their previous estimate of $1.95. Scotiabank has a “Sector Perform” rating and a $22.00 price objective on the stock. The consensus estimate for Iamgold’s current full-year earnings is $2.05 per share.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its 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. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $955.17 million. Iamgold had a return on equity of 26.65% and a net margin of 29.49%.

Several other brokerages have also weighed in on IAG. Weiss Ratings lowered Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. Bank of America decreased their price target on shares of Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Zacks Research lowered shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Royal Bank Of Canada dropped their price objective on shares of Iamgold from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Iamgold presently has an average rating of “Moderate Buy” and an average target price of $19.00.

Iamgold Stock Down 0.1%

Shares of IAG stock opened at $14.12 on Monday. Iamgold has a twelve month low of $6.69 and a twelve month high of $24.87. The stock has a market cap of $8.11 billion, a P/E ratio of 8.21, a P/E/G ratio of 0.61 and a beta of 1.30. The stock has a 50 day moving average of $16.46 and a 200 day moving average of $18.31. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12.

Hedge Funds Weigh In On Iamgold

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC purchased a new position in Iamgold in the second quarter valued at approximately $95,000. Empowered Funds LLC purchased a new stake in shares of Iamgold during the 1st quarter worth approximately $531,000. Western Wealth Management LLC purchased a new stake in shares of Iamgold during the 1st quarter worth approximately $43,000. Bank of America Corp DE lifted its position in shares of Iamgold by 4.7% during the 1st quarter. Bank of America Corp DE now owns 9,589,342 shares of the mining company’s stock worth $180,471,000 after buying an additional 434,188 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of Iamgold in the 1st quarter valued at $13,056,000. 47.08% of the stock is owned by institutional investors and hedge funds.

About Iamgold

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.