Zacks: Brokerages Anticipate Iamgold Corporation (IAG) to Post -$0.01 Earnings Per Share
Wall Street analysts expect Iamgold Corporation (NYSE:IAG) (TSE:IMG) to report earnings of ($0.01) per share for the current quarter, Zacks reports. Zero analysts have issued estimates for Iamgold Corporation’s earnings. The highest EPS estimate is $0.00 and the lowest is ($0.02). Iamgold Corporation posted earnings of $0.05 per share in the same quarter last year, which would suggest a negative year over year growth rate of 120%. The firm is expected to announce its next quarterly earnings report on Monday, November 6th.
On average, analysts expect that Iamgold Corporation will report full-year earnings of $0.03 per share for the current year, with EPS estimates ranging from ($0.02) to $0.08. For the next fiscal year, analysts forecast that the company will report earnings of $0.11 per share, with EPS estimates ranging from $0.01 to $0.27. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Iamgold Corporation.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Wednesday, August 9th. The mining company reported $0.01 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.01. Iamgold Corporation had a return on equity of 1.43% and a net margin of 46.75%. The company had revenue of $274.50 million for the quarter, compared to analyst estimates of $267.07 million. During the same quarter in the previous year, the company earned $0.01 EPS. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year.
IAG has been the subject of several recent research reports. Credit Suisse Group raised shares of Iamgold Corporation from an “underperform” rating to a “neutral” rating and increased their target price for the company from $4.50 to $5.00 in a research note on Wednesday, May 10th. Scotiabank raised shares of Iamgold Corporation from an “underperform” rating to a “sector perform” rating in a research note on Wednesday, May 10th. National Bank Financial reissued an “outperform market weight” rating on shares of Iamgold Corporation in a research note on Sunday, May 14th. BMO Capital Markets set a $5.00 target price on shares of Iamgold Corporation and gave the company a “hold” rating in a research note on Tuesday, May 16th. Finally, Bank of America Corporation raised shares of Iamgold Corporation from an “underperform” rating to a “neutral” rating in a research note on Tuesday, May 23rd. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $5.88.
Large investors have recently modified their holdings of the stock. Comerica Bank increased its stake in shares of Iamgold Corporation by 1.9% in the first quarter. Comerica Bank now owns 25,820 shares of the mining company’s stock valued at $104,000 after buying an additional 485 shares during the period. World Asset Management Inc increased its stake in shares of Iamgold Corporation by 3.9% in the first quarter. World Asset Management Inc now owns 27,537 shares of the mining company’s stock valued at $110,000 after buying an additional 1,040 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Iamgold Corporation by 102.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 21,299 shares of the mining company’s stock valued at $110,000 after buying an additional 10,773 shares during the period. Sprott Inc. purchased a new stake in shares of Iamgold Corporation during the second quarter valued at approximately $114,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Iamgold Corporation during the second quarter valued at approximately $131,000. Institutional investors and hedge funds own 57.32% of the company’s stock.
Shares of Iamgold Corporation (NYSE:IAG) opened at 5.87 on Tuesday. The firm has a 50-day moving average price of $5.27 and a 200-day moving average price of $4.59. Iamgold Corporation has a one year low of $3.14 and a one year high of $5.93. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 5.35 and a beta of -0.31.
Iamgold Corporation Company Profile
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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