Iamgold Corporation (IAG) Expected to Earn FY2018 Earnings of $0.07 Per Share
Iamgold Corporation (NYSE:IAG) (TSE:IMG) – Cormark lowered their FY2018 earnings per share (EPS) estimates for shares of Iamgold Corporation in a research note issued on Thursday. Cormark analyst R. Gray now expects that the mining company will post earnings per share of $0.07 for the year, down from their previous forecast of $0.08. Cormark also issued estimates for Iamgold Corporation’s FY2019 earnings at $0.10 EPS.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Wednesday, August 9th. The mining company reported $0.01 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.01. The firm had revenue of $274.50 million during the quarter, compared to analyst estimates of $267.07 million. Iamgold Corporation had a net margin of 46.75% and a return on equity of 1.51%. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter last year, the business posted $0.01 EPS. TRADEMARK VIOLATION WARNING: This article was originally published by Watch List News and is the property of of Watch List News. If you are viewing this article on another publication, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this article can be read at https://www.watchlistnews.com/iamgold-corporation-iag-expected-to-earn-fy2018-earnings-of-0-07-per-share/1473562.html.
Several other research analysts have also recently issued reports on IAG. Credit Suisse Group raised shares of Iamgold Corporation from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $4.50 to $5.00 in a report on Wednesday, May 10th. Scotiabank raised shares of Iamgold Corporation from an “underperform” rating to a “sector perform” rating in a report on Wednesday, May 10th. National Bank Financial reaffirmed an “outperform market weight” rating on shares of Iamgold Corporation in a report on Sunday, May 14th. BMO Capital Markets set a $5.00 target price on shares of Iamgold Corporation and gave the stock a “hold” rating in a report on Tuesday, May 16th. Finally, Bank of America Corporation raised shares of Iamgold Corporation from an “underperform” rating to a “neutral” rating in a report on Tuesday, May 23rd. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $5.88.
Iamgold Corporation (NYSE:IAG) traded up 4.79% during midday trading on Friday, reaching $5.47. 3,979,304 shares of the company’s stock traded hands. The firm has a market cap of $2.54 billion, a PE ratio of 4.99 and a beta of -0.31. Iamgold Corporation has a 52-week low of $3.14 and a 52-week high of $5.71. The firm’s 50-day moving average is $5.19 and its 200 day moving average is $4.53.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank boosted its position in Iamgold Corporation by 1.9% in the first quarter. Comerica Bank now owns 25,820 shares of the mining company’s stock valued at $104,000 after buying an additional 485 shares during the last quarter. World Asset Management Inc boosted its position in Iamgold Corporation by 3.9% in the first quarter. World Asset Management Inc now owns 27,537 shares of the mining company’s stock valued at $110,000 after buying an additional 1,040 shares during the last quarter. Sprott Inc. bought a new position in Iamgold Corporation during the second quarter valued at $114,000. Quantbot Technologies LP bought a new position in Iamgold Corporation during the second quarter valued at $131,000. Finally, Acadian Asset Management LLC bought a new position in Iamgold Corporation during the second quarter valued at $137,000. 57.95% of the stock is owned by hedge funds and other institutional investors.
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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