Iamgold (NYSE:IAG) Issues Quarterly Earnings Results

by · The Cerbat Gem

Iamgold (NYSE:IAG – Get Free Report) (TSE:IMG) announced its quarterly earnings results on Thursday. The mining company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06, Zacks reports. Iamgold had a net margin of 31.40% and a return on equity of 28.97%.

Iamgold Stock Down 0.5%

Iamgold stock traded down $0.09 during trading hours on Thursday, hitting $17.39. 8,962,655 shares of the stock traded hands, compared to its average volume of 6,558,954. Iamgold has a one year low of $11.98 and a one year high of $24.87. The firm’s 50-day moving average price is $18.77 and its two-hundred day moving average price is $18.34. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 0.10. The company has a market cap of $9.85 billion, a PE ratio of 8.78, a PEG ratio of 1.18 and a beta of 1.39.

Analyst Ratings Changes

A number of research firms have commented on IAG. Bank of America lowered their price target on Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Raymond James Financial lifted their price objective on Iamgold from $20.00 to $21.00 and gave the stock a “market perform” rating in a research report on Friday, September 4th. Freedom Broker reduced their target price on Iamgold from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. Weiss Ratings downgraded Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, October 26th. Finally, Wall Street Zen lowered Iamgold from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Iamgold presently has a consensus rating of “Moderate Buy” and an average price target of $22.71.

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About Iamgold

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IAMGOLD Corporation is a Canadian mining company focused on the exploration, development and production of gold. Headquartered in Toronto, the company operates primarily in Canada and maintains a portfolio of gold assets at various stages of development.

IAMGOLD’s principal operating asset is the Côté Gold mine in northern Ontario, which it operates in partnership with Sumitomo Metal Mining. The company also owns the Westwood complex in Quebec, which includes underground mining and development activities.

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