Equities analysts expect Iamgold Corp (NYSE:IAG) (TSE:IMG) to announce $0.02 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Iamgold’s earnings, with estimates ranging from $0.01 to $0.03. Iamgold reported earnings of ($0.03) per share in the same quarter last year, which would indicate a positive year over year growth rate of 166.7%. The firm is expected to announce its next quarterly earnings results on Wednesday, February 20th.
On average, analysts expect that Iamgold will report full year earnings of $0.13 per share for the current fiscal year, with EPS estimates ranging from $0.09 to $0.16. For the next year, analysts forecast that the company will post earnings of $0.11 per share, with EPS estimates ranging from $0.06 to $0.15. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Iamgold.
Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Tuesday, November 6th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). Iamgold had a negative net margin of 0.98% and a positive return on equity of 1.14%. The firm had revenue of $244.80 million during the quarter, compared to analyst estimates of $266.17 million. During the same quarter in the prior year, the business posted $0.07 earnings per share. The company’s quarterly revenue was down 8.9% compared to the same quarter last year.
A number of equities analysts have issued reports on the stock. TheStreet cut shares of Iamgold from a “c-” rating to a “d+” rating in a research note on Wednesday, October 31st. Royal Bank of Canada set a $6.00 price objective on shares of Iamgold and gave the company a “hold” rating in a research note on Thursday, October 11th. Zacks Investment Research cut shares of Iamgold from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. ValuEngine cut shares of Iamgold from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Finally, TD Securities reissued a “buy” rating on shares of Iamgold in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Iamgold currently has a consensus rating of “Hold” and an average target price of $6.68.
Shares of IAG traded down $0.14 during mid-day trading on Friday, hitting $3.13. 6,639,229 shares of the company traded hands, compared to its average volume of 5,313,735. Iamgold has a one year low of $3.08 and a one year high of $6.52. The stock has a market capitalization of $1.55 billion, a P/E ratio of 52.17, a price-to-earnings-growth ratio of 9.25 and a beta of -0.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.31 and a quick ratio of 3.80.
Several hedge funds have recently made changes to their positions in IAG. LPL Financial LLC boosted its holdings in shares of Iamgold by 201.3% during the 1st quarter. LPL Financial LLC now owns 64,503 shares of the mining company’s stock worth $335,000 after buying an additional 43,098 shares during the period. Guggenheim Capital LLC boosted its holdings in Iamgold by 8.4% in the 1st quarter. Guggenheim Capital LLC now owns 364,346 shares of the mining company’s stock valued at $1,891,000 after purchasing an additional 28,323 shares during the period. Alps Advisors Inc. boosted its holdings in Iamgold by 29.6% in the 2nd quarter. Alps Advisors Inc. now owns 1,395,870 shares of the mining company’s stock valued at $8,138,000 after purchasing an additional 318,419 shares during the period. Aperio Group LLC boosted its holdings in Iamgold by 457.0% in the 2nd quarter. Aperio Group LLC now owns 340,774 shares of the mining company’s stock valued at $1,980,000 after purchasing an additional 279,595 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Iamgold by 5.4% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,027,426 shares of the mining company’s stock valued at $64,214,000 after purchasing an additional 565,927 shares during the period. 53.42% of the stock is owned by institutional investors and hedge funds.
IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. It also explores for copper and silver. The company owns interests in the Rosebel gold mine located in north eastern Suriname, South America; the Essakane gold mine in north-eastern Burkina Faso, West Africa; the Westwood gold mine in southwestern Québec, Canada; and the Sadiola Gold Mine located in southwest Mali, West Africa.
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