Scotiabank Has Bullish Outlook for Iamgold FY2027 Earnings

Iamgold Corporation (NYSE:IAG) (TSE:IMG) – Investment analysts at Scotiabank increased their FY2027 earnings per share (EPS) estimates for shares of Iamgold in a report issued on Thursday, May 14th. Scotiabank analyst T. Jakusconek now expects that the mining company will post earnings per share of $1.95 for the year, up from their previous forecast 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.

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, beating 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 during the quarter, compared to analysts’ expectations of $955.17 million.

IAG has been the topic of a number of other research reports. Zacks Research lowered shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Iamgold in a research note on Wednesday, February 4th. Wall Street Zen upgraded Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. TD Securities reaffirmed a “buy” rating on shares of Iamgold in a report on Thursday, February 19th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Iamgold in a report on Tuesday, April 21st. One equities research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.75.

Iamgold Price Performance

Shares of Iamgold stock opened at $18.48 on Friday. Iamgold has a twelve month low of $6.06 and a twelve month high of $24.87. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.12. The company has a 50-day simple moving average of $18.81 and a two-hundred day simple moving average of $17.73. The stock has a market capitalization of $10.68 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 0.91 and a beta of 1.26.

Insiders Place Their Bets

In related news, Director David Stewart Smith sold 31,000 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $32.87, for a total value of $1,018,970.00. Following the sale, the director directly 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 filing with the SEC, which is available through this link. 0.17% of the stock is owned by company insiders.

Institutional Investors Weigh In On Iamgold

A number of hedge funds have recently made changes to their positions in the stock. Mariner LLC lifted its stake in Iamgold by 0.6% in the 4th quarter. Mariner LLC now owns 110,033 shares of the mining company’s stock valued at $1,814,000 after purchasing an additional 615 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in shares of Iamgold by 1.9% during 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 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. Northwest & Ethical Investments L.P. grew its position in Iamgold by 0.4% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company’s stock worth $5,716,000 after acquiring an additional 1,424 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in Iamgold by 4.8% in the 4th quarter. Franklin Resources Inc. now owns 32,011 shares of the mining company’s stock worth $528,000 after purchasing an additional 1,474 shares in the last quarter. 47.08% of the stock is currently 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.