FY2027 Earnings Forecast for Iamgold Issued By Scotiabank

Iamgold Corporation (NYSE:IAG) (TSE:IMG) – Investment analysts at Scotiabank dropped their FY2027 earnings estimates for shares of Iamgold in a report released on Wednesday, July 15th. Scotiabank analyst T. Jakusconek now expects that the mining company will post earnings of $1.85 per share for the year, down from their previous forecast 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 $1.98 per share.

Other equities research analysts also recently issued research reports about the company. Royal Bank Of Canada reduced their price target on Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Weiss Ratings cut Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th. Zacks Research downgraded Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Bank of America reduced their target price on Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Iamgold presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Iamgold Stock Up 6.9%

NYSE IAG opened at $14.93 on Monday. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. Iamgold has a 1-year low of $6.69 and a 1-year high of $24.87. The company has a 50 day moving average of $16.28 and a 200-day moving average of $18.28. The company has a market cap of $8.57 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 0.62 and a beta of 1.30.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share (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 firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $955.17 million.

Institutional Trading of Iamgold

Institutional investors and hedge funds have recently made changes to their positions in the company. Mariner LLC increased its holdings in shares of Iamgold by 0.6% during the fourth quarter. Mariner LLC now owns 110,033 shares of the mining company’s stock worth $1,814,000 after buying an additional 615 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in shares of Iamgold by 1.9% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 37,000 shares of the mining company’s stock valued at $612,000 after acquiring an additional 700 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Iamgold by 73.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,712 shares of the mining company’s stock valued at $51,000 after acquiring an additional 1,150 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Iamgold by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company’s stock valued at $2,849,000 after acquiring an additional 1,303 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. boosted its holdings in shares of Iamgold by 0.4% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company’s stock valued at $5,716,000 after acquiring an additional 1,424 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.

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.