Cormark Comments on IAMGOLD Corp’s FY2017 Earnings (IAG)

IAMGOLD Corp (NYSE:IAG) (TSE:IMG) – Equities researchers at Cormark decreased their FY2017 earnings per share estimates for shares of IAMGOLD in a report released on Thursday. Cormark analyst R. Gray now expects that the mining company will earn $0.02 per share for the year, down from their previous forecast of $0.11. Cormark also issued estimates for IAMGOLD’s Q4 2017 earnings at ($0.07) EPS and FY2018 earnings at ($0.01) EPS.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Tuesday, November 7th. The mining company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $268.80 million for the quarter, compared to analysts’ expectations of $268.62 million. IAMGOLD had a return on equity of 1.81% and a net margin of 48.66%. The business’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS.

A number of other analysts have also recently weighed in on IAG. Canaccord Genuity cut IAMGOLD from a “buy” rating to a “hold” rating and set a $8.07 price target on the stock. in a research report on Friday, September 29th. BMO Capital Markets restated a “buy” rating and issued a $8.00 target price on shares of IAMGOLD in a research report on Monday, October 2nd. Zacks Investment Research cut IAMGOLD from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Royal Bank of Canada set a $8.00 target price on IAMGOLD and gave the company a “hold” rating in a research report on Wednesday, October 18th. Finally, Scotiabank restated a “hold” rating on shares of IAMGOLD in a research report on Tuesday, November 14th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $7.07.

Shares of IAMGOLD (NYSE:IAG) opened at $6.16 on Monday. The company has a current ratio of 4.78, a quick ratio of 3.85 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $2,890.00, a P/E ratio of 5.65, a PEG ratio of 23.33 and a beta of -0.57. IAMGOLD has a 1 year low of $3.36 and a 1 year high of $7.25.

A number of institutional investors and hedge funds have recently bought and sold shares of IAG. Advisor Group Inc. boosted its stake in IAMGOLD by 2.3% during the 2nd quarter. Advisor Group Inc. now owns 33,950 shares of the mining company’s stock valued at $175,000 after purchasing an additional 750 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in IAMGOLD by 102.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 21,299 shares of the mining company’s stock valued at $110,000 after purchasing an additional 10,773 shares in the last quarter. Fox Run Management L.L.C. boosted its stake in IAMGOLD by 121.2% during the 4th quarter. Fox Run Management L.L.C. now owns 26,325 shares of the mining company’s stock valued at $153,000 after purchasing an additional 14,425 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in IAMGOLD by 2.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 607,826 shares of the mining company’s stock valued at $3,131,000 after purchasing an additional 14,600 shares in the last quarter. Finally, U S Global Investors Inc. boosted its stake in IAMGOLD by 113.9% during the 3rd quarter. U S Global Investors Inc. now owns 28,955 shares of the mining company’s stock valued at $177,000 after purchasing an additional 15,419 shares in the last quarter. Hedge funds and other institutional investors own 55.92% of the company’s stock.

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About IAMGOLD

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.

Earnings History and Estimates for IAMGOLD (NYSE:IAG)

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