IAMGOLD(US:IAG) ZACKSยท2024-06-28 17:01Core Viewpoint - Iamgold has been upgraded to a Zacks Rank 1 (Strong Buy) due to a significant upward trend in earnings estimates, indicating a positive outlook for the company's stock price [5][6][7]. Earnings Estimates and Revisions - The Zacks Consensus Estimate for Iamgold has increased by 623.7% over the past three months, reflecting analysts' growing confidence in the company's earnings potential [10]. - For the fiscal year ending December 2024, Iamgold is expected to earn $0.28 per share, representing a year-over-year change of 211.1% [14]. Zacks Rating System - The Zacks Rank stock-rating system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [9]. - Only the top 5% of Zacks-covered stocks receive a 'Strong Buy' rating, indicating superior earnings estimate revisions and potential for market-beating returns [15]. Market Impact - The upgrade of Iamgold is expected to positively influence its stock price as institutional investors often react to changes in earnings estimates, leading to significant price movements [12][13].