Iamgold (NYSE:IAG) Announces Earnings Results, Beats Expectations By $0.06 EPS

Iamgold (NYSE:IAG) (TSE:IMG) issued its quarterly earnings results on Thursday. The mining company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06, Zacks reports. Iamgold had a return on equity of 28.97% and a net margin of 31.40%. The firm had revenue of $843.58 million during the quarter, compared to analysts’ expectations of $826.66 million.

Iamgold Stock Performance

NYSE:IAG opened at $18.72 on Friday. The business has a fifty day simple moving average of $18.63 and a two-hundred day simple moving average of $18.34. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.71 and a quick ratio of 1.05. Iamgold has a 1 year low of $12.03 and a 1 year high of $24.87. The company has a market capitalization of $10.61 billion, a P/E ratio of 8.28, a P/E/G ratio of 1.19 and a beta of 1.39.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on IAG shares. Canadian Imperial Bank of Commerce set a $25.00 target price on shares of Iamgold in a report on Friday, October 16th. Jefferies Financial Group initiated coverage on shares of Iamgold in a report on Thursday, August 20th. They issued a “buy” rating and a $24.00 price target for the company. Royal Bank Of Canada upped their price target on Iamgold from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Raymond James Financial upped their price objective on shares of Iamgold from $20.00 to $21.00 and gave the stock a “market perform” rating in a research report on Friday, September 4th. Finally, Wall Street Zen downgraded Iamgold from a “buy” rating to a “hold” rating in a research report on Saturday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.71.

About Iamgold

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.