Iamgold Corporation to Post FY2017 Earnings of $0.11 Per Share, Cormark Forecasts (IAG)
Iamgold Corporation (NYSE:IAG) (TSE:IMG) – Research analysts at Cormark lifted their FY2017 earnings per share (EPS) estimates for Iamgold Corporation in a research note issued on Wednesday. Cormark analyst R. Gray now expects that the mining company will post earnings of $0.11 per share for the year, up from their previous forecast of ($0.03). Cormark also issued estimates for Iamgold Corporation’s Q4 2017 earnings at $0.01 EPS.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Tuesday, November 7th. The mining company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.02 by $0.05. The company had revenue of $268.80 million for the quarter, compared to analyst estimates of $268.62 million. Iamgold Corporation had a return on equity of 1.81% and a net margin of 48.66%. The firm’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 earnings per share.
Several other research analysts have also commented on IAG. Royal Bank Of Canada cut their price target on Iamgold Corporation from $7.50 to $7.00 and set a “sector perform” rating on the stock in a research report on Friday. Zacks Investment Research lowered Iamgold Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BMO Capital Markets reissued a “buy” rating and issued a $8.00 target price on shares of Iamgold Corporation in a report on Wednesday. TheStreet raised Iamgold Corporation from a “c-” rating to a “b” rating in a report on Thursday, August 17th. Finally, Scotiabank boosted their target price on Iamgold Corporation from $5.75 to $6.25 and gave the company a “sector perform” rating in a report on Tuesday, August 1st. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $7.10.
Iamgold Corporation (NYSE:IAG) opened at $5.91 on Friday. The company has a market capitalization of $2,750.00, a P/E ratio of 61.50, a price-to-earnings-growth ratio of 63.08 and a beta of -0.53. Iamgold Corporation has a 12-month low of $3.16 and a 12-month high of $7.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.19 and a current ratio of 4.78.
Several institutional investors have recently bought and sold shares of IAG. Wells Fargo & Company MN boosted its stake in shares of Iamgold Corporation by 2.6% in the first quarter. Wells Fargo & Company MN now owns 64,657 shares of the mining company’s stock valued at $258,000 after buying an additional 1,662 shares in the last quarter. FMR LLC purchased a new stake in Iamgold Corporation during the first quarter worth $4,943,000. Vanguard Group Inc. boosted its position in Iamgold Corporation by 3.9% during the first quarter. Vanguard Group Inc. now owns 8,653,597 shares of the mining company’s stock worth $34,615,000 after purchasing an additional 326,515 shares in the last quarter. Morgan Stanley boosted its position in Iamgold Corporation by 204.3% during the first quarter. Morgan Stanley now owns 2,237,001 shares of the mining company’s stock worth $8,949,000 after purchasing an additional 1,501,873 shares in the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in Iamgold Corporation during the first quarter worth $227,000. Hedge funds and other institutional investors own 56.31% of the company’s stock.
About Iamgold Corporation
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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