Iamgold Corp. Expected to Earn Q3 2016 Earnings of $0.00 Per Share (IAG)
Iamgold Corp. (NYSE:IAG) – Equities researchers at National Bank Financial issued their Q3 2016 earnings per share (EPS) estimates for Iamgold Corp. in a research note issued to investors on Wednesday. National Bank Financial analyst S. Parsons anticipates that the firm will post earnings of $0.00 per share for the quarter. National Bank Financial also issued estimates for Iamgold Corp.’s FY2016 earnings at ($0.04) EPS and FY2017 earnings at ($0.05) EPS.
Several other brokerages have also issued reports on IAG. RBC Capital Markets raised shares of Iamgold Corp. from an “underperform” rating to a “sector perform” rating and upped their target price for the stock from $5.50 to $6.50 in a report on Monday, August 8th. Royal Bank Of Canada raised shares of Iamgold Corp. from an “underperform” rating to a “sector perform” rating and upped their target price for the stock from $5.50 to $6.50 in a report on Monday, August 8th. Zacks Investment Research raised shares of Iamgold Corp. from a “hold” rating to a “strong-buy” rating and set a $5.50 target price on the stock in a report on Monday, July 18th. Credit Suisse Group AG began coverage on shares of Iamgold Corp. in a report on Thursday, August 18th. They issued a “neutral” rating and a $5.25 target price on the stock. Finally, Paradigm Capital upgraded shares of Iamgold Corp. from a “hold” rating to a “buy” rating in a research report on Monday, July 18th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the stock. Iamgold Corp. presently has an average rating of “Hold” and an average target price of $3.61.
Iamgold Corp. (NYSE:IAG) opened at 3.37 on Monday. The firm’s market capitalization is $1.37 billion. The firm’s 50-day moving average is $3.91 and its 200 day moving average is $3.90. Iamgold Corp. has a 12 month low of $1.15 and a 12 month high of $5.87.
Iamgold Corp. (NYSE:IAG) last announced its quarterly earnings results on Wednesday, August 3rd. The mining company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. Iamgold Corp. had a negative net margin of 80.04% and a negative return on equity of 5.16%. The firm earned $232.50 million during the quarter, compared to analysts’ expectations of $245.68 million. During the same period in the previous year, the company earned ($0.08) earnings per share. Iamgold Corp.’s quarterly revenue was up 2.6% compared to the same quarter last year.
Institutional investors have recently modified their holdings of the company. Creative Planning boosted its position in Iamgold Corp. by 371.7% in the third quarter. Creative Planning now owns 89,338 shares of the mining company’s stock valued at $362,000 after buying an additional 70,400 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of Iamgold Corp. during the second quarter valued at about $345,000. Jane Street Group LLC increased its stake in shares of Iamgold Corp. by 194.0% in the second quarter. Jane Street Group LLC now owns 593,882 shares of the mining company’s stock valued at $2,459,000 after buying an additional 391,869 shares in the last quarter. Paloma Partners Management Co increased its stake in shares of Iamgold Corp. by 295.0% in the second quarter. Paloma Partners Management Co now owns 150,291 shares of the mining company’s stock valued at $622,000 after buying an additional 112,242 shares in the last quarter. Finally, Guggenheim Capital LLC increased its stake in shares of Iamgold Corp. by 4.0% in the second quarter. Guggenheim Capital LLC now owns 674,882 shares of the mining company’s stock valued at $2,794,000 after buying an additional 25,750 shares in the last quarter. 48.37% of the stock is owned by institutional investors.
About Iamgold Corp.
IAMGOLD Corporation (IAMGOLD) is engaged in the exploration, development and production of mineral resource properties across the world. Through its holdings, IAMGOLD has interests in various operations and exploration properties, as well as various royalty interests on mineral resource properties. All gold produced by IAMGOLD is in the form of dore bars, which is sold to gold refineries in North America and Europe.
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