Iamgold (IAG) Issues Quarterly Earnings Results

Iamgold (NYSE:IAG) (TSE:IMG) announced its quarterly earnings results on Tuesday. The mining company reported ($0.01) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01), Briefing.com reports. 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 analysts’ expectations of $266.17 million. During the same period in the prior year, the company posted $0.07 EPS. The company’s revenue was down 8.9% on a year-over-year basis.

Shares of IAG traded down $0.04 during trading hours on Thursday, hitting $3.30. 2,457,316 shares of the stock were exchanged, compared to its average volume of 5,139,283. Iamgold has a fifty-two week low of $3.32 and a fifty-two week high of $6.52. The company has a quick ratio of 3.80, a current ratio of 4.72 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.69 billion, a PE ratio of 54.92, a price-to-earnings-growth ratio of 10.08 and a beta of -0.19.

Several research firms have recently weighed in on IAG. Zacks Investment Research upgraded shares of Iamgold from a “sell” rating to a “hold” rating in a research report on Saturday, November 3rd. TD Securities reiterated a “buy” rating on shares of Iamgold in a research report on Thursday. TheStreet cut shares of Iamgold from a “b” rating to a “c-” rating in a research report on Friday, August 10th. Raymond James set a $6.00 price objective on shares of Iamgold and gave the stock a “hold” rating in a research report on Wednesday. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Iamgold in a research report on Sunday, October 21st. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Iamgold currently has a consensus rating of “Hold” and a consensus price target of $6.88.

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Iamgold Company Profile

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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Earnings History for Iamgold (NYSE:IAG)

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