Q4 2019 EPS Estimates for Iamgold Corp Boosted by Analyst (NYSE:IAG)

Iamgold Corp (NYSE:IAG) (TSE:IMG) – Investment analysts at Raymond James lifted their Q4 2019 EPS estimates for shares of Iamgold in a report released on Friday, October 18th. Raymond James analyst F. Hamed now forecasts that the mining company will post earnings per share of $0.07 for the quarter, up from their previous estimate of $0.06. Raymond James has a “Market Perform” rating and a $4.00 price objective on the stock.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Wednesday, August 7th. The mining company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.02). The business had revenue of $246.50 million during the quarter, compared to the consensus estimate of $272.94 million. Iamgold had a negative net margin of 9.84% and a negative return on equity of 1.45%. The business’s revenue was down 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.03 EPS.

Several other equities analysts also recently commented on IAG. Canaccord Genuity reaffirmed a “hold” rating on shares of Iamgold in a research report on Friday, July 19th. CSFB downgraded Iamgold from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $4.75 to $3.75 in a research report on Thursday, August 8th. CIBC reaffirmed an “average” rating on shares of Iamgold in a research report on Sunday, August 4th. Zacks Investment Research downgraded Iamgold from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Credit Suisse Group downgraded Iamgold from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 8th. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $4.12.

Shares of Iamgold stock opened at $3.40 on Monday. The stock’s fifty day moving average is $3.58 and its two-hundred day moving average is $3.29. The company has a market capitalization of $1.66 billion, a PE ratio of 56.67, a price-to-earnings-growth ratio of 52.44 and a beta of -0.10. The company has a quick ratio of 3.05, a current ratio of 4.14 and a debt-to-equity ratio of 0.15. Iamgold has a 52 week low of $2.28 and a 52 week high of $4.16.

Institutional investors and hedge funds have recently bought and sold shares of the company. Brookstone Capital Management bought a new position in shares of Iamgold during the 3rd quarter worth $38,000. Cerebellum GP LLC bought a new position in shares of Iamgold during the 3rd quarter worth $77,000. Cetera Advisors LLC bought a new position in shares of Iamgold during the 2nd quarter worth $49,000. Clean Yield Group grew its position in shares of Iamgold by 168.8% during the 2nd quarter. Clean Yield Group now owns 43,000 shares of the mining company’s stock worth $145,000 after buying an additional 27,000 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in shares of Iamgold by 33.8% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 48,263 shares of the mining company’s stock worth $163,000 after buying an additional 12,196 shares in the last quarter. 57.24% of the stock is currently owned by institutional investors and hedge funds.

Iamgold Company Profile

IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine in Burkina Faso, West Africa; the Westwood mine in Quebec, Canada; and the Sadiola mine located in Mali, West Africa.

Further Reading: Commodities

Earnings History and Estimates for Iamgold (NYSE:IAG)

Receive News & Ratings for Iamgold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iamgold and related companies with MarketBeat.com's FREE daily email newsletter.