Brokerages predict that Iamgold Corp (NYSE:IAG) (TSE:IMG) will announce $0.05 earnings per share for the current quarter, according to Zacks. Zero analysts have issued estimates for Iamgold’s earnings, with estimates ranging from $0.04 to $0.07. Iamgold reported 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 company is expected to issue its next earnings results on Wednesday, February 19th.
According to Zacks, analysts expect that Iamgold will report full year earnings of $0.03 per share for the current fiscal year, with EPS estimates ranging from $0.00 to $0.07. For the next year, analysts expect that the firm will post earnings of $0.22 per share, with EPS estimates ranging from $0.15 to $0.30. Zacks’ EPS calculations are an average based on a survey of analysts that cover Iamgold.
A number of brokerages have recently issued reports on IAG. ValuEngine cut Iamgold from a “sell” rating to a “strong sell” rating in a report on Friday, November 29th. Raymond James reiterated a “market perform” rating and set a $5.00 target price on shares of Iamgold in a report on Friday, November 8th. Credit Suisse Group cut Iamgold from an “outperform” rating to a “neutral” rating in a report on Thursday, August 8th. CSFB cut Iamgold from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $4.75 to $3.75 in a report on Thursday, August 8th. Finally, Zacks Investment Research cut Iamgold from a “buy” rating to a “hold” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $4.26.
Institutional investors have recently added to or reduced their stakes in the stock. Brookstone Capital Management acquired a new position in Iamgold during the 3rd quarter worth approximately $38,000. Cetera Advisors LLC acquired a new position in Iamgold during the 2nd quarter worth approximately $49,000. Ropes Wealth Advisors LLC acquired a new position in Iamgold during the 3rd quarter worth approximately $72,000. Cerebellum GP LLC acquired a new position in shares of Iamgold in the 3rd quarter valued at approximately $77,000. Finally, Colony Group LLC acquired a new position in shares of Iamgold in the 3rd quarter valued at approximately $79,000. 59.16% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:IAG traded down $0.08 during trading on Wednesday, reaching $3.60. 3,179,868 shares of the stock were exchanged, compared to its average volume of 5,273,326. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.98 and a current ratio of 4.07. Iamgold has a 12-month low of $2.28 and a 12-month high of $4.16. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 60.00, a price-to-earnings-growth ratio of 48.27 and a beta of -0.06. The firm’s 50-day moving average price is $3.55 and its 200 day moving average price is $3.40.
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: What is a Candlestick Chart?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.