IAMGOLD (NYSE:IAG) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

IAMGOLD (NYSE:IAG) (TSE:IMG) announced its quarterly earnings results on Thursday. The mining company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09, Zacks reports. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. The company had revenue of $338.90 million for the quarter. During the same quarter in the prior year, the firm earned $0.05 EPS.

IAMGOLD Trading Up 11.7 %

Shares of NYSE:IAG traded up $0.45 during trading on Friday, reaching $4.30. 17,357,098 shares of the company were exchanged, compared to its average volume of 8,793,476. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.77. The business’s fifty day simple moving average is $3.41 and its 200-day simple moving average is $2.80. The firm has a market capitalization of $2.14 billion, a PE ratio of 21.95, a P/E/G ratio of 0.64 and a beta of 1.68. IAMGOLD has a 12-month low of $1.99 and a 12-month high of $4.32.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IAG. StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. CIBC upped their target price on IAMGOLD from $3.00 to $3.10 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. BMO Capital Markets raised their target price on IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a research note on Friday, April 5th. Finally, Scotiabank upped their price target on IAMGOLD from $3.25 to $3.75 and gave the stock a “sector perform” rating in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, IAMGOLD has an average rating of “Hold” and a consensus target price of $3.55.

About IAMGOLD

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.