Brokerages Expect Iamgold Corp (NYSE:IAG) to Announce $0.05 EPS

Equities analysts expect Iamgold Corp (NYSE:IAG) (TSE:IMG) to report earnings of $0.05 per share for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Iamgold’s earnings, with estimates ranging from $0.04 to $0.07. Iamgold posted earnings of ($0.03) per share during the same quarter last year, which would indicate a positive year over year growth rate of 266.7%. The business is scheduled to report its next earnings report on Wednesday, February 19th.

According to Zacks, analysts expect that Iamgold will report full year earnings of $0.03 per share for the current year, with EPS estimates ranging from $0.00 to $0.07. For the next year, analysts anticipate that the firm will post earnings of $0.22 per share, with EPS estimates ranging from $0.15 to $0.30. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Iamgold.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Wednesday, November 6th. The mining company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). Iamgold had a negative return on equity of 1.33% and a negative net margin of 8.94%. The business had revenue of $274.40 million during the quarter.

A number of equities analysts recently commented on IAG shares. Royal Bank of Canada assumed coverage on shares of Iamgold in a research note on Wednesday, December 4th. They issued a “hold” rating and a $3.75 price objective for the company. Raymond James reissued a “market perform” rating and issued a $5.00 price target on shares of Iamgold in a research report on Friday, November 8th. ValuEngine cut Iamgold from a “sell” rating to a “strong sell” rating in a research note on Friday, November 29th. Finally, Zacks Investment Research downgraded Iamgold from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $4.33.

IAG stock traded down $0.04 during trading on Wednesday, hitting $3.44. 2,951,700 shares of the company’s stock traded hands, compared to its average volume of 5,249,299. The firm has a market capitalization of $1.63 billion, a P/E ratio of 57.33, a PEG ratio of 46.40 and a beta of -0.06. The business has a fifty day simple moving average of $3.56 and a two-hundred day simple moving average of $3.42. The company has a quick ratio of 2.98, a current ratio of 4.07 and a debt-to-equity ratio of 0.15. Iamgold has a 1 year low of $2.28 and a 1 year high of $4.16.

In related news, insider Harmer Peter sold 100,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $7.91, for a total transaction of $790,700.00.

Institutional investors have recently bought and sold shares of the company. Brookstone Capital Management acquired a new position in Iamgold during the 3rd quarter valued at about $38,000. Cerebellum GP LLC purchased a new stake in Iamgold during the 3rd quarter worth approximately $77,000. Cetera Advisors LLC purchased a new stake in Iamgold during the 2nd quarter worth approximately $49,000. Ropes Wealth Advisors LLC acquired a new position in Iamgold during the 3rd quarter valued at approximately $72,000. Finally, Colony Group LLC acquired a new position in Iamgold during the 3rd quarter valued at approximately $79,000. 59.17% of the stock is owned by hedge funds and other institutional investors.

About Iamgold

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.

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Earnings History and Estimates for Iamgold (NYSE:IAG)

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