Iamgold Corporation (IAG) Posts Earnings Results
Iamgold Corporation (NYSE:IAG) (TSE:IMG) announced its earnings results on Tuesday. The mining company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.05, Briefing.com reports. Iamgold Corporation had a return on equity of 1.43% and a net margin of 46.75%. The company had revenue of $268.80 million for the quarter, compared to analyst estimates of $268.62 million. During the same period in the prior year, the company posted $0.05 EPS. Iamgold Corporation’s quarterly revenue was down 4.8% on a year-over-year basis.
Shares of Iamgold Corporation (IAG) remained flat at $$5.75 on Tuesday. The company’s stock had a trading volume of 4,050,000 shares, compared to its average volume of 4,310,000. The stock has a market capitalization of $2,670.00, a P/E ratio of 70.13, a P/E/G ratio of 68.00 and a beta of -0.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.19 and a current ratio of 5.17. Iamgold Corporation has a 12 month low of $3.16 and a 12 month high of $7.25.
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A number of brokerages have issued reports on IAG. Zacks Investment Research lowered Iamgold Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Royal Bank Of Canada set a $8.00 target price on Iamgold Corporation and gave the company a “hold” rating in a research report on Wednesday, October 18th. BMO Capital Markets reaffirmed a “buy” rating and issued a $8.00 target price on shares of Iamgold Corporation in a research report on Monday, October 2nd. Canaccord Genuity lowered Iamgold Corporation from a “buy” rating to a “hold” rating and set a $8.07 target price on the stock. in a research report on Friday, September 29th. Finally, Scotiabank upped their price target on Iamgold Corporation from $6.25 to $7.00 and gave the company a “sector perform” rating in a research report on Friday, September 15th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $7.23.
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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