Zacks: Brokerages Anticipate Iamgold Corp (IAG) Will Post Earnings of $0.02 Per Share

Brokerages forecast that Iamgold Corp (NYSE:IAG) (TSE:IMG) will post earnings per share of $0.02 for the current quarter, according to Zacks. Zero analysts have issued estimates for Iamgold’s earnings. The highest EPS estimate is $0.03 and the lowest is $0.01. Iamgold posted earnings per share of ($0.03) during the same quarter last year, which indicates a positive year over year growth rate of 166.7%. The company is expected to report its next earnings report on Wednesday, February 20th.

According to Zacks, analysts expect that Iamgold will report full year earnings of $0.13 per share for the current financial year, with EPS estimates ranging from $0.09 to $0.16. For the next fiscal year, analysts expect that the firm 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 sell-side research firms that follow Iamgold.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Tuesday, November 6th. The mining company reported ($0.01) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.01). Iamgold had a positive return on equity of 1.14% and a negative net margin of 0.98%. The business had revenue of $244.80 million during the quarter, compared to the consensus estimate of $266.17 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. The business’s revenue for the quarter was down 8.9% on a year-over-year basis.

A number of research analysts recently weighed in on IAG shares. ValuEngine cut Iamgold from a “hold” rating to a “sell” rating in a report on Friday, August 17th. Zacks Investment Research cut Iamgold from a “hold” rating to a “sell” rating in a research note on Thursday, October 18th. Raymond James set a $6.00 price objective on Iamgold and gave the stock a “hold” rating in a research note on Wednesday. BMO Capital Markets restated a “buy” rating and set a $7.00 price objective on shares of Iamgold in a research note on Friday, September 21st. Finally, TheStreet cut Iamgold from a “b” rating to a “c-” rating in a research note on Friday, August 10th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Iamgold presently has a consensus rating of “Hold” and a consensus price target of $6.68.

Iamgold stock traded down $0.14 during midday trading on Friday, reaching $3.13. The stock had a trading volume of 6,639,229 shares, compared to its average volume of 5,313,735. Iamgold has a twelve month low of $3.08 and a twelve month high of $6.52. The stock has a market capitalization of $1.55 billion, a P/E ratio of 52.17, a PEG ratio of 9.25 and a beta of -0.19. The company has a current ratio of 4.31, a quick ratio of 3.80 and a debt-to-equity ratio of 0.14.

A number of institutional investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased its holdings in Iamgold by 424.0% in the third quarter. Canada Pension Plan Investment Board now owns 1,509,100 shares of the mining company’s stock valued at $5,546,000 after buying an additional 1,221,100 shares during the last quarter. CIBC World Markets Inc. increased its holdings in Iamgold by 6.4% in the third quarter. CIBC World Markets Inc. now owns 419,806 shares of the mining company’s stock valued at $1,545,000 after buying an additional 25,093 shares during the last quarter. FMR LLC increased its holdings in Iamgold by 15.2% in the third quarter. FMR LLC now owns 3,493,912 shares of the mining company’s stock valued at $12,849,000 after buying an additional 461,462 shares during the last quarter. Fosun International Ltd bought a new stake in Iamgold in the third quarter valued at about $366,000. Finally, Bank of New York Mellon Corp increased its holdings in Iamgold by 14.3% in the third quarter. Bank of New York Mellon Corp now owns 9,098,395 shares of the mining company’s stock valued at $33,482,000 after buying an additional 1,139,108 shares during the last quarter. 53.42% of the stock is owned by hedge funds and other institutional investors.

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 and Estimates for Iamgold (NYSE:IAG)

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