Brokers Issue Forecasts for Iamgold Corporation’s FY2017 Earnings (NYSE:IAG)
Iamgold Corporation (NYSE:IAG) (TSE:IMG) – Stock analysts at Cormark issued their FY2017 earnings estimates for Iamgold Corporation in a research note issued on Thursday. Cormark analyst R. Gray expects that the mining company will post earnings per share of ($0.02) for the year.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last posted its earnings results on Wednesday, August 9th. The mining company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $274.50 million during the quarter, compared to analysts’ expectations of $267.07 million. Iamgold Corporation had a net margin of 46.75% and a return on equity of 1.43%. Iamgold Corporation’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.01 EPS. TRADEMARK VIOLATION NOTICE: This report was reported by American Banking News and is owned by of American Banking News. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and international copyright legislation. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/08/14/brokers-issue-forecasts-for-iamgold-corporations-fy2017-earnings-nyseiag.html.
Several other equities analysts have also weighed in on IAG. Zacks Investment Research lowered shares of Iamgold Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. National Bank Financial restated an “outperform market weight” rating on shares of Iamgold Corporation in a research report on Sunday, May 14th. Scotiabank increased their price target on shares of Iamgold Corporation from $5.75 to $6.25 and gave the company a “sector perform” rating in a research report on Tuesday, August 1st. BidaskClub upgraded shares of Iamgold Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Finally, Royal Bank Of Canada restated a “hold” rating on shares of Iamgold Corporation in a research report on Wednesday, July 12th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $5.88.
Shares of Iamgold Corporation (IAG) opened at 5.45 on Monday. The stock’s 50 day moving average is $5.19 and its 200-day moving average is $4.54. The firm’s market cap is $2.53 billion. Iamgold Corporation has a 1-year low of $3.14 and a 1-year high of $5.71.
A number of large investors have recently added to or reduced their stakes in IAG. Van ECK Associates Corp increased its stake in Iamgold Corporation by 3.5% in the first quarter. Van ECK Associates Corp now owns 85,304,445 shares of the mining company’s stock valued at $341,218,000 after buying an additional 2,911,229 shares during the period. Renaissance Technologies LLC increased its stake in Iamgold Corporation by 4.9% in the second quarter. Renaissance Technologies LLC now owns 18,851,800 shares of the mining company’s stock valued at $97,275,000 after buying an additional 873,700 shares during the period. Vanguard Group Inc. increased its stake in Iamgold Corporation by 9.7% in the second quarter. Vanguard Group Inc. now owns 9,492,363 shares of the mining company’s stock valued at $48,980,000 after buying an additional 838,766 shares during the period. Tocqueville Asset Management L.P. increased its stake in Iamgold Corporation by 183.9% in the second quarter. Tocqueville Asset Management L.P. now owns 6,850,300 shares of the mining company’s stock valued at $35,348,000 after buying an additional 4,437,200 shares during the period. Finally, Franklin Resources Inc. increased its stake in Iamgold Corporation by 1.2% in the second quarter. Franklin Resources Inc. now owns 5,452,000 shares of the mining company’s stock valued at $28,132,000 after buying an additional 65,000 shares during the period. 57.32% of the stock is currently owned by institutional investors and hedge funds.
About Iamgold Corporation
IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.
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