Cormark Comments on IAMGOLD Corp’s Q1 2018 Earnings (IAG)
IAMGOLD Corp (NYSE:IAG) (TSE:IMG) – Equities researchers at Cormark reduced their Q1 2018 earnings per share estimates for shares of IAMGOLD in a research note issued on Thursday. Cormark analyst R. Gray now expects that the mining company will earn ($0.01) per share for the quarter, down from their prior forecast of $0.01. Cormark also issued estimates for IAMGOLD’s Q2 2018 earnings at ($0.01) EPS, Q3 2018 earnings at $0.00 EPS and Q4 2018 earnings at $0.00 EPS.
IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Tuesday, November 7th. The mining company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.05. IAMGOLD had a return on equity of 1.81% and a net margin of 48.66%. The business had revenue of $268.80 million during the quarter, compared to the consensus estimate of $268.62 million. During the same period in the prior year, the company earned $0.05 EPS. IAMGOLD’s revenue for the quarter was down 4.8% on a year-over-year basis.
Shares of IAMGOLD (NYSE:IAG) opened at $6.15 on Friday. The company has a current ratio of 4.78, a quick ratio of 3.85 and a debt-to-equity ratio of 0.14. IAMGOLD has a 1 year low of $3.36 and a 1 year high of $7.25. The firm has a market capitalization of $2,860.00, a price-to-earnings ratio of 5.64, a P/E/G ratio of 23.33 and a beta of -0.57.
A number of institutional investors have recently bought and sold shares of IAG. Swiss National Bank raised its position in IAMGOLD by 2.5% in the second quarter. Swiss National Bank now owns 770,100 shares of the mining company’s stock valued at $3,973,000 after purchasing an additional 18,800 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of IAMGOLD by 560.2% during the second quarter. JPMorgan Chase & Co. now owns 2,688,430 shares of the mining company’s stock worth $13,873,000 after acquiring an additional 2,281,226 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of IAMGOLD by 171.9% during the second quarter. Alliancebernstein L.P. now owns 32,900 shares of the mining company’s stock worth $170,000 after acquiring an additional 20,800 shares during the last quarter. Ameriprise Financial Inc. bought a new position in shares of IAMGOLD during the second quarter worth about $600,000. Finally, UBS Asset Management Americas Inc. raised its position in shares of IAMGOLD by 2.5% during the second quarter. UBS Asset Management Americas Inc. now owns 607,826 shares of the mining company’s stock worth $3,131,000 after acquiring an additional 14,600 shares during the last quarter. Hedge funds and other institutional investors own 55.92% of the company’s stock.
IAMGOLD 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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