FY2017 Earnings Forecast for Iamgold Corporation Issued By National Bank Financial (NYSE:IAG)
Iamgold Corporation (NYSE:IAG) (TSE:IMG) – National Bank Financial increased their FY2017 earnings per share estimates for shares of Iamgold Corporation in a report issued on Wednesday. National Bank Financial analyst D. Demarco now forecasts that the mining company will post earnings of $0.02 per share for the year, up from their previous forecast of $0.01. National Bank Financial has a “Outperform Market Weight” rating on the stock. National Bank Financial also issued estimates for Iamgold Corporation’s FY2018 earnings at $0.01 EPS and FY2019 earnings at $0.02 EPS.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Wednesday, August 9th. The mining company reported $0.01 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.01. Iamgold Corporation had a return on equity of 1.43% and a net margin of 46.75%. The company had revenue of $274.50 million during the quarter, compared to analysts’ expectations of $267.07 million. During the same quarter in the previous year, the business earned $0.01 EPS. Iamgold Corporation’s revenue was up 18.1% compared to the same quarter last year.
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IAG has been the subject of several other research reports. Zacks Investment Research raised Iamgold Corporation from a “hold” rating to a “buy” rating and set a $5.75 target price for the company in a research note on Monday, July 17th. BMO Capital Markets set a $5.00 target price on Iamgold Corporation and gave the stock a “hold” rating in a research note on Tuesday, May 16th. BidaskClub raised Iamgold Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Royal Bank Of Canada set a $6.00 target price on Iamgold Corporation and gave the stock a “hold” rating in a research note on Thursday, June 8th. Finally, Credit Suisse Group reissued a “hold” rating and set a $5.00 target price on shares of Iamgold Corporation in a research note on Wednesday, June 7th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Iamgold Corporation currently has a consensus rating of “Hold” and a consensus target price of $5.88.
Iamgold Corporation (IAG) opened at 5.45 on Monday. The stock’s market cap is $2.53 billion. Iamgold Corporation has a 12-month low of $3.14 and a 12-month high of $5.71. The company’s 50-day moving average price is $5.19 and its 200-day moving average price is $4.54.
Several large investors have recently modified their holdings of IAG. Renaissance Technologies LLC boosted its stake in shares of Iamgold Corporation by 4.9% in the second quarter. Renaissance Technologies LLC now owns 18,851,800 shares of the mining company’s stock worth $97,275,000 after buying an additional 873,700 shares during the last quarter. Advisor Group Inc. boosted its stake in shares of Iamgold Corporation by 2.3% in the second quarter. Advisor Group Inc. now owns 33,950 shares of the mining company’s stock worth $175,000 after buying an additional 750 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Iamgold Corporation during the second quarter worth $131,000. FMR LLC boosted its stake in shares of Iamgold Corporation by 12.9% in the second quarter. FMR LLC now owns 1,395,550 shares of the mining company’s stock worth $7,199,000 after buying an additional 160,000 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Iamgold Corporation by 9.7% in the second quarter. Vanguard Group Inc. now owns 9,492,363 shares of the mining company’s stock worth $48,980,000 after buying an additional 838,766 shares during the last quarter. 57.32% of the stock is owned by institutional investors and hedge funds.
Iamgold Corporation Company Profile
IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.
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