$0.01 EPS Expected for Iamgold Corp (IAG) This Quarter

Equities analysts forecast that Iamgold Corp (NYSE:IAG) (TSE:IMG) will post earnings of $0.01 per share for the current fiscal quarter, Zacks reports. 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 of ($0.03) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 133.3%. The company is scheduled to report its next earnings report on Wednesday, February 20th.

On average, analysts expect that Iamgold will report full year earnings of $0.11 per share for the current year, with EPS estimates ranging from $0.09 to $0.16. For the next fiscal year, analysts forecast that the business will post earnings of $0.10 per share, with EPS estimates ranging from $0.07 to $0.15. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Iamgold.

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

Several analysts have recently commented on the company. BMO Capital Markets downgraded Iamgold from an “outperform” rating to a “market perform” rating and set a $2.96 target price for the company. in a research note on Friday. ValuEngine upgraded Iamgold from a “hold” rating to a “buy” rating in a research note on Friday, December 21st. TheStreet downgraded Iamgold from a “c-” rating to a “d+” rating in a research note on Wednesday, October 31st. Royal Bank of Canada set a $6.00 target price on Iamgold and gave the company a “hold” rating in a research note on Thursday, October 11th. Finally, Zacks Investment Research upgraded Iamgold from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $5.41.

Shares of IAG stock traded down $0.18 during mid-day trading on Friday, hitting $2.83. The company’s stock had a trading volume of 9,655,079 shares, compared to its average volume of 6,066,737. Iamgold has a 52 week low of $2.75 and a 52 week high of $6.52. The company has a current ratio of 4.31, a quick ratio of 3.40 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1.50 billion, a PE ratio of 47.17, a price-to-earnings-growth ratio of 10.49 and a beta of -0.38.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in Iamgold by 17.8% during the 2nd quarter. BlackRock Inc. now owns 345,591 shares of the mining company’s stock valued at $2,008,000 after purchasing an additional 52,340 shares during the last quarter. FMR LLC boosted its stake in Iamgold by 65.2% during the 2nd quarter. FMR LLC now owns 3,032,450 shares of the mining company’s stock valued at $17,669,000 after purchasing an additional 1,197,000 shares during the last quarter. OppenheimerFunds Inc. acquired a new position in Iamgold during the 2nd quarter valued at about $407,000. Schroder Investment Management Group boosted its stake in Iamgold by 205.1% during the 2nd quarter. Schroder Investment Management Group now owns 623,110 shares of the mining company’s stock valued at $4,533,000 after purchasing an additional 418,900 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Iamgold by 69.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,959,287 shares of the mining company’s stock valued at $46,243,000 after purchasing an additional 3,269,020 shares during the last quarter. Institutional investors own 55.41% of the company’s stock.

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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