Iamgold (NYSE:IAG) Posts Earnings Results, Beats Estimates By $0.06 EPS

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

Iamgold Price Performance

Shares of NYSE:IAG traded down $0.09 on Thursday, reaching $17.39. The company’s stock had a trading volume of 8,962,655 shares, compared to its average volume of 4,381,098. The company has a 50-day simple moving average of $18.69 and a 200 day simple moving average of $18.34. Iamgold has a 52-week low of $11.98 and a 52-week high of $24.87. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.05 and a current ratio of 1.71. The company has a market cap of $9.85 billion, a P/E ratio of 8.40, a PEG ratio of 1.29 and a beta of 1.39.

Analysts Set New Price Targets

A number of equities research analysts recently commented on IAG shares. Raymond James Financial boosted their target price on Iamgold from $20.00 to $21.00 and gave the stock a “market perform” rating in a research report on Friday, September 4th. Scotiabank raised their price target on Iamgold from $22.00 to $23.00 and gave the company a “sector perform” rating in a report on Wednesday, August 12th. Wall Street Zen downgraded Iamgold from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th. Jefferies Financial Group started coverage on Iamgold in a research note on Thursday, August 20th. They issued a “buy” rating and a $24.00 price objective on the stock. Finally, Zacks Research cut Iamgold from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 20th. One equities research 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 given a Sell rating to the company. According to MarketBeat, Iamgold currently has an average rating of “Moderate Buy” and a consensus price target of $22.71.

Iamgold Company Profile

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.