FY2016 EPS Estimates for Iamgold Corp. Boosted by Analyst (IAG)
Iamgold Corp. (NYSE:IAG) – Equities research analysts at National Bank Financial raised their FY2016 EPS estimates for shares of Iamgold Corp. in a note issued to investors on Monday. National Bank Financial analyst S. Parsons now forecasts that the brokerage will post earnings of $0.03 per share for the year, up from their previous estimate of ($0.04). National Bank Financial currently has a “Outperform” rating on the stock. National Bank Financial also issued estimates for Iamgold Corp.’s Q4 2016 earnings at $0.00 EPS, FY2018 earnings at ($0.15) EPS and FY2020 earnings at ($0.11) EPS.
Iamgold Corp. (NYSE:IAG) last announced its quarterly earnings data on Monday, November 7th. The mining company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.03. The business earned $282.40 million during the quarter, compared to the consensus estimate of $258.10 million. Iamgold Corp. had a negative return on equity of 2.05% and a negative net margin of 63.53%. The business’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.22) earnings per share.
A number of other research firms also recently weighed in on IAG. Paradigm Capital upgraded Iamgold Corp. from a “hold” rating to a “buy” rating in a research report on Monday, July 18th. Credit Suisse Group AG started coverage on Iamgold Corp. in a research report on Thursday, August 18th. They issued a “neutral” rating and a $5.25 target price for the company. TD Securities upgraded Iamgold Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded Iamgold Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Canaccord Genuity upgraded Iamgold Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, October 19th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $3.98.
Shares of Iamgold Corp. (NYSE:IAG) opened at 3.59 on Thursday. The stock has a 50 day moving average price of $3.86 and a 200-day moving average price of $4.10. Iamgold Corp. has a 12 month low of $1.15 and a 12 month high of $5.87. The stock’s market cap is $1.46 billion.
Several institutional investors have recently bought and sold shares of IAG. Cipher Capital LP bought a new position in Iamgold Corp. during the second quarter worth $101,000. World Asset Management Inc increased its position in Iamgold Corp. by 10.7% in the second quarter. World Asset Management Inc now owns 24,961 shares of the mining company’s stock worth $103,000 after buying an additional 2,406 shares during the period. ING Groep NV bought a new position in Iamgold Corp. during the second quarter worth $114,000. Dynamic Technology Lab Private Ltd bought a new position in Iamgold Corp. during the second quarter worth $122,000. Finally, Societe Generale bought a new position in Iamgold Corp. during the second quarter worth $148,000. 44.35% of the stock is currently owned by institutional investors and hedge funds.
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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