Zacks: Brokerages Anticipate Iamgold Corp (NYSE:IAG) Will Announce Earnings of $0.05 Per Share

Wall Street analysts expect Iamgold Corp (NYSE:IAG) (TSE:IMG) to announce $0.05 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have made estimates for Iamgold’s earnings. The lowest EPS estimate is $0.04 and the highest is $0.07. Iamgold reported earnings of ($0.03) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 266.7%. The company is expected to issue its next quarterly earnings report on Wednesday, February 19th.

On average, analysts expect that Iamgold will report full-year earnings of $0.03 per share for the current financial year, with EPS estimates ranging from $0.00 to $0.07. For the next financial year, analysts forecast that the business will post earnings of $0.22 per share, with EPS estimates ranging from $0.15 to $0.30. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Iamgold.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its earnings results on Wednesday, November 6th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). Iamgold had a negative return on equity of 1.33% and a negative net margin of 8.94%. The company had revenue of $274.40 million for the quarter.

A number of brokerages have recently issued reports on IAG. Raymond James restated a “market perform” rating and set a $5.00 price objective on shares of Iamgold in a report on Friday, November 8th. Royal Bank of Canada initiated coverage on Iamgold in a report on Wednesday. They set a “hold” rating and a $3.75 price target for the company. Zacks Investment Research downgraded Iamgold from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, ValuEngine lowered Iamgold from a “sell” rating to a “strong sell” rating in a report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $4.33.

Iamgold stock opened at $3.48 on Wednesday. The company’s 50-day moving average price is $3.56 and its two-hundred day moving average price is $3.42. The company has a quick ratio of 2.98, a current ratio of 4.07 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.63 billion, a P/E ratio of 58.00, a P/E/G ratio of 48.27 and a beta of -0.06. Iamgold has a twelve month low of $2.28 and a twelve month high of $4.16.

In other news, insider Harmer Peter sold 100,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $7.91, for a total value of $790,700.00.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Brookstone Capital Management bought a new stake in shares of Iamgold in the 3rd quarter valued at $38,000. Cetera Advisors LLC acquired a new position in Iamgold in the second quarter valued at $49,000. Ropes Wealth Advisors LLC acquired a new stake in Iamgold during the 3rd quarter worth about $72,000. Cerebellum GP LLC bought a new position in shares of Iamgold in the 3rd quarter worth about $77,000. Finally, Colony Group LLC bought a new position in shares of Iamgold in the 3rd quarter worth about $79,000. Hedge funds and other institutional investors own 59.16% of the company’s stock.

About Iamgold

IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine in Burkina Faso, West Africa; the Westwood mine in Quebec, Canada; and the Sadiola mine located in Mali, West Africa.

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Earnings History and Estimates for Iamgold (NYSE:IAG)

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