Iamgold Corporation (NYSE:IAG) (TSE:IMG) – Equities researchers at National Bank Financial upped their FY2018 earnings estimates for shares of Iamgold Corporation in a research note issued on Wednesday. National Bank Financial analyst D. Demarco now expects that the mining company will post earnings of $0.02 per share for the year, up from their previous estimate of $0.01. National Bank Financial also issued estimates for Iamgold Corporation’s FY2019 earnings at $0.07 EPS.
Several other research firms have also issued reports on IAG. CIBC upgraded shares of Iamgold Corporation from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $6.93 to $7.00 in a report on Wednesday, September 6th. Raymond James Financial, Inc. raised their target price on shares of Iamgold Corporation from $6.00 to $7.25 and gave the stock a “market perform” rating in a report on Thursday, September 7th. Scotiabank raised their target price on shares of Iamgold Corporation from $6.25 to $7.00 and gave the stock a “sector perform” rating in a report on Friday, September 15th. Royal Bank Of Canada set a $7.00 target price on shares of Iamgold Corporation and gave the stock a “hold” rating in a report on Tuesday, August 29th. Finally, BMO Capital Markets upgraded shares of Iamgold Corporation from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $6.00 to $7.50 in a report on Tuesday, August 22nd. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $6.82.
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Iamgold Corporation (NYSE:IAG) traded up 1.42% during trading on Monday, hitting $6.45. 1,371,913 shares of the company’s stock were exchanged. Iamgold Corporation has a 52-week low of $3.14 and a 52-week high of $7.25. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 5.88 and a beta of -0.40. The firm has a 50 day moving average price of $6.08 and a 200 day moving average price of $4.89.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Wednesday, August 9th. The mining company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. Iamgold Corporation had a net margin of 46.75% and a return on equity of 1.43%. The firm had revenue of $274.50 million for the quarter, compared to analysts’ expectations of $267.07 million. During the same quarter in the previous year, the company earned $0.01 earnings per share. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Comerica Bank lifted its holdings in Iamgold Corporation by 1.9% during the 1st quarter. Comerica Bank now owns 25,820 shares of the mining company’s stock valued at $104,000 after buying an additional 485 shares in the last quarter. World Asset Management Inc lifted its holdings in Iamgold Corporation by 3.9% during the 1st 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 in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Iamgold Corporation by 102.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 21,299 shares of the mining company’s stock valued at $110,000 after buying an additional 10,773 shares in the last quarter. Sprott Inc. bought a new stake in Iamgold Corporation during the 2nd quarter valued at about $114,000. Finally, Quantbot Technologies LP bought a new stake in Iamgold Corporation during the 2nd quarter valued at about $131,000. Institutional investors own 56.35% of the company’s stock.
Iamgold Corporation Company Profile
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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