Iamgold Corp (NYSE:IAG) (TSE:IMG) – Equities researchers at Desjardins lowered their FY2018 earnings estimates for shares of Iamgold in a report issued on Monday, January 7th. Desjardins analyst J. Wolfson now forecasts that the mining company will earn $0.10 per share for the year, down from their prior forecast of $0.11. Desjardins has a “Hold” rating on the stock. Desjardins also issued estimates for Iamgold’s Q4 2018 earnings at $0.00 EPS.
Other analysts also recently issued research reports about the stock. BMO Capital Markets reiterated a “buy” rating and issued a $7.00 target price on shares of Iamgold in a report on Friday, September 21st. ValuEngine upgraded shares of Iamgold from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Zacks Investment Research downgraded shares of Iamgold from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. Royal Bank of Canada set a $6.00 price target on shares of Iamgold and gave the company a “hold” rating in a report on Thursday, October 11th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Iamgold in a research note on Sunday, October 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Iamgold currently has an average rating of “Buy” and an average price target of $6.50.
Shares of Iamgold stock opened at $3.70 on Thursday. The stock has a market capitalization of $1.79 billion, a P/E ratio of 61.67, a P/E/G ratio of 12.99 and a beta of -0.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.40 and a current ratio of 4.31. Iamgold has a twelve month low of $2.75 and a twelve month high of $6.52.
Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Tuesday, November 6th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Iamgold had a positive return on equity of 1.14% and a negative net margin of 0.98%. The firm had revenue of $244.80 million for the quarter, compared to the consensus estimate of $266.17 million. During the same period in the prior year, the firm earned $0.07 EPS. The firm’s revenue was down 8.9% on a year-over-year basis.
Several large investors have recently modified their holdings of the company. Adams Asset Advisors LLC raised its holdings in Iamgold by 51.6% during the 4th quarter. Adams Asset Advisors LLC now owns 220,371 shares of the mining company’s stock worth $810,000 after purchasing an additional 75,000 shares during the last quarter. Vanguard Group Inc boosted its holdings in shares of Iamgold by 3.6% in the 3rd quarter. Vanguard Group Inc now owns 11,372,941 shares of the mining company’s stock valued at $41,852,000 after buying an additional 399,459 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in Iamgold in the 3rd quarter valued at $295,000. Marshall Wace LLP bought a new position in Iamgold during the 3rd quarter worth $1,018,000. Finally, Clearbridge Investments LLC bought a new position in Iamgold during the 3rd quarter worth $1,401,000. Institutional investors own 55.41% of the company’s stock.
Iamgold Company Profile
IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. It also explores for copper and silver. The company owns interests in the Rosebel gold mine located in north eastern Suriname, South America; the Essakane gold mine in north-eastern Burkina Faso, West Africa; the Westwood gold mine in southwestern Québec, Canada; and the Sadiola Gold Mine located in southwest Mali, West Africa.
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